Learn about Vehicle Disposal, Transfer, and Lease Termination
A Vehicle Disposal Report must be filed with Insurance and Risk Management prior to disposal; this is true of owned vehicles as well as lease terminations or expirations. In order to dispose of a vehicle, the department must have the original title, which is kept by Risk Management. Upon receipt of the Vehicle Disposal Report, Risk Management will arrange to have an authorized University representative sign the back of the title. Risk Management will contact you when the signed title is available for pick up. Your department is responsible for vehicle disposal or trade-in. Please note that University-owned vehicles cannot be sold or transferred to any other parties.
It is the department's responsibility to surrender the plates to the NYS Department of Motor Vehicles (NYS DMV). Instructions for the surrendering of license plates can be found at NYS DMV. A copy of the NYS DMV Surrender Receipt must be emailed to Risk Management; departments may keep the original for their records. License plates cannot be transferred to a third party under any circumstances.
After the sale or transfer of a vehicle, a copy of the executed title should be forwarded to the Insurance and Risk Management department. Risk Management will continue to charge departments for insurance premium until a copy of the executed title and a license plate surrender receipt is received. Otherwise, insurance will be canceled by Risk Management effective on the date of sale and the insurance premium will be adjusted accordingly.
Interdepartmental vehicle transfers may include license plate transfers (e.g., from department X to department Y, still registered to the Trustees of Columbia University at 615 W. 131 ST, 362E; New York, NY 10027), but this must be reported to Risk Management prior to transfer.
Upon the termination of a lease, it is your responsibility to inform Risk Management that the lease has expired. You must also surrender the license plates to the NYS DMV.
If a new lease is signed with the dealership for another vehicle upon the termination of a lease, contact Procurement and Risk Management for the process. Please note that the old plates may be used on the new vehicle.