Idaho Code 49-1636 – Consignment Sales
Current as of: 2023 | Check for updates
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(1) An owner who consigns a vehicle to a vehicle dealer to be offered for sale or exchange on behalf of the owner to a third party purchaser, shall provide the dealer with either the certificate of title to the vehicle along with a power of attorney designating the dealer as an agent of the owner, or a duly executed consignment agreement between the dealer and the owner, along with a copy of the certificate of title of the vehicle being consigned.
(2) A consignment agreement shall contain at the least, the following:
(a) The name and current address of the owner of the vehicle as shown on the certificate of title;
(b) The name and current address of any person holding a lien on the vehicle;
(c) The name of the consignee;
(d) A description of the vehicle including the vehicle’s make, model, vehicle identification number and odometer reading; and
(e) A statement that the owner has appointed the vehicle dealer as his agent for the purpose of offering the vehicle for sale.
Terms Used In Idaho Code 49-1636
- Lien: A claim against real or personal property in satisfaction of a debt.
- person: includes a corporation as well as a natural person;
Idaho Code 73-114Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC