CA DMV Form REG 481. Salvage Vehicle Notice of Retention by Owner

Form REG 481 is used by insurance companies to notify the Department of Motor Vehicles (DMV) when the registered owner has chosen to retain a salvage vehicle. This form is typically completed when an insurance claim is settled, and the registered owner decides to keep the salvage vehicle instead of having it disposed of by the insurance company.

Application Example: When an insurance claim is settled, and the registered owner wants to retain a salvage vehicle, the insurance company completes Form REG 481 to notify the DMV. By submitting this form, the insurance company informs the DMV that the salvage vehicle will remain in the ownership of the registered owner.

Related Forms: Form REG 481 is specific to the notification of retention of a salvage vehicle. However, other forms related to salvage titles, title transfers, or insurance settlements may exist depending on the specific circumstances of the transaction.