I don't know where you're at, but if the driver filed a release of liability, there is little chance of the PO backing out. Otherwise, you should be able to file a statement of facts about the circumstances between when you obtained the truck and completed the registration.
I wouldn't worry though.
Even if the PO tries to get the truck back, you can file a lien against it for the cost of parts to repair it (you have the receipts still, right) and the time you've spent repairing it (for say, 65 an hour) and most likely get the title awarded to you if it went to court... that is unless the PO agrees to pay all costs.

otherwise... coolies. it runs!

 

Wow abe, that's some pretty heavy knowledge you're pouring out there. I won't have a problem, they gave me the truck in a dead state, they're friends, and they've already replaced it with a brand new Tacoma. I just have to get an affidavit of gift signed, so I don't have to pay sales tax on fair value of a truck that was ready for the junk yard.

 

funny you mention 'gift'. most states only allow 'gift' status on transfers between 1st generation family members- father to son, daughter to mother, or brother to sister, etc.
otherwise, all they have to do is state a value of zero. but some states raise all sorts of flags on that type of transaction since people use that to get out of taxes.

 

Ya, that's what I read on our dmv website. The dept of revenue will come after you for sales and use tax if the price is much lower than fair value. I looked at the gift form, and it asks for relationship. One of the examples is friend/friend.

 

PA allows gifts from anyone to anyone, as far as I can remember.

And I am stoked that you got this puppy up and running! I am soo ready to tear into mine, and I might be in contact with you for some advice as I go.

Congrats, and Job Well Done, Cyber!

-Clint

 

Arkansas is the same.....person to person....not necessarily a relative.

 

Actually, each person can make a "gift" of $12,000/year. It is possible to make a gift of $24,000 if a husband and wife elect gift splitting. Husband and wife can give gifts of unlimited nature. As long as the truck is not worth more than $12,000 then you will be set. And that would have been pre-rebuild. Awesome job by the way. If you have any more tax questions let me know.

 

Ya, I'm pretty much set. The guy I was dealing with for the 3.4 is actually going to do the paperwork, as well as inspect the truck (and bleed my hydraulics while it's there). I'm hoping to have it on the road this week.

 

God, will it ever end? The PO can't find the title, now they have to apply for a copy. I'll be delivering the app personally to the DMV, but without a bunch of luck, they'll mail it to them in about 2-3 weeks, insted of just handing it over. The funny part about all this is that they did sign a title, they almost handed over their 2007 Tacoma SR5.

Oh well, thought I'd post a before and after. I don't think this truck has seen a coat of wax in a decade (or soap for that matter) :

 

What a difference! Makes me miss my '91 DLX longbed.......

 

awesome work done a couple frame offs at the shop I worked at and you doing it yourself shows something. Now if only I was that ambitious my poor old girl looks like she'd fall a part in a stiff wind.

 

The truck finally made it on the road today. I got the registration all taken care of, and drove it to the office. About 8 miles out, the truck shut off. WTF? Looked under the hood and found out that the EFI fuse was blown. I replaced it, and of course, it blew again. Looked again and saw that the wiring harness running down the passenger side got stuck to the EGR valve (whoops). I pulled it apart, and separated the melted wires from each other. Put a new fuse in, and off she went again. After 120 miles of driving today, all seems well. Here's another pic, after putting on flares and painting the wheels.

 

Hot dang! Looks very nice, Cyber. Now you just need a full exo so nothing can touch it!

 

very nice

 

very very nice build up sorry i didnt follow it since the beginning and its funny i found it im in the middle of the exact same build up and just to make it more funny i have a VERY similar knock i have a jasper motor thats been sitting for 3 years and it ran perfect before it started sitting has 1500miles on it and knocking just the same how much did it coast you to fix your knock total? machine shop and all and if you could split it up that would help. i just had mine frame off same exact truck even went down to getting a gray interior and swaping it out for the blue mine had. mine just got back from the paint shop i dropped the motor in this weekend and the knock was there. if you have any help its much apreciated!

 

I took only the crank to the machine shop. They cleaned, magnafluxed and turned the crank for $127. Add in new oversized rod and main bearings at about $50. Since I had it all apart, I put new pistons and rings in it. Other tan a minor oil leak (I think it's the valve covers), the engine runs smooth now.

And here are couple more pics. I've since added a prerunner bar and bed ruster (roll bar).

 

that was a fantastic thread!! Absolutely amazing work, very inspiring.
Beautiful truck!

 

Sweeeet! Truck is lookin damn fine! I would probibly paint the bumper and grill gloss black though, black and red are a great combo

 

I don't want to be a complete copy cat jay. I might have to do that trick to my valence like you did.

 

thanks ill be tareing mine apart this week thanks for the heads up!