Glossary

Terms & Definitions

Word or Phrase	Definition
Assembled Vehicle	A vehicle that has been created by assembling major components from at least two vehicles. Refer to the affidavit of assembly for what constitutes a major component.
Assignment	Written portion of title to be completed by the seller when vehicle is sold. Title ownership will match the assignment.
ATV	A vehicle manufactured and used exclusively for off-highway use, traveling on four or more non-highway tires, and being fifty (50) inches or less in width.
Autocycle	Any motor vehicle having: A seat or saddle for the use of each rider; three wheels in contact with the ground, but excluding a tractor; A combustion engine with a piston or rotor displacement of one hundred fifty cubic centimeters (150 cu cm) or greater; For each occupant, safety belts or safety shoulder harnesses;
Bill of Sale	A document between a buyer and seller stating that a vehicle is being sold. It must include price, vin, buyer info, seller info, and be notarized.
Decal	The year sticker to be placed in the top right corner of your license plate.
Documented Vessel	Any boat in Oklahoma that is required to have a valid marine document issued by the United States Coast Guard
Electronic Lien and Title	Titles and liens may be filed and stored electronically without the issuance of paper documents
Excise Tax	Tax due at time of ownership transfer. Exemptions may be different from sales tax exemptions.
FEIN	Federal Employee ID Number. Used in lieu of a driver's license for businesses
Junk	Any vehicle which is incapable of operation or use on the highway, has no resale value except as a source of parts or scrap and has an eighty percent (80%) loss in fair market value. Junked vehicles cannot be made roadworthy again. They may only be used for parts in assembled vehicles.
Liability Insurance	The minimum level of insurance required to operate a vehicle on the roads of the state of Oklahoma. Insurance must be an Oklahoma policy that meets our states laws in order to title/register.
Licensed Agent	Formerly known as tag agents. Licensed contractors that process driver's license and motor vehicle transactions on behalf of the state
Lien	A right to keep possession of property belonging to another person until a debt owed by that person is discharged. Liens are reflected on the face of the title. Titles will go to lienholder until lien is discharged/released.
Lienholder	A loan lender that has a legal claim to your financed car.
Manufactured Home	Structures, transportable in one or more sections, which, in the traveling mode, are eight (8) feet or more in width or forty (40) feet or more in length, or, when erected on site, are more than 320 square feet, and which are built on a permanent chassis and designed to be used as dwellings with or without permanent foundations when connected to the required utilities, and include the plumbing, heating, air conditioning, and electrical systems contained thereon.
Mini Truck	A foreign-manufactured import or domestic-manufactured vehicle powered by an internal combustion engine with a piston or rotor displacement of one thousand cubic centimeters (1,000 cu cm) or less, which is sixty-seven (67) inches or less in width, with an unladen dry weight of three thousand four hundred (3,400) pounds or less, traveling on four or more tires, having a top speed of approximately fifty-five (55) miles per hour, equipped with a bed or compartment for hauling and having an enclosed passenger cab
Non-Use	A street legal vehicle that is not being operated on the roads, may provide a non-use affidavit in lieu of insurance. Vehicles must be renewed yearly regardless of operation.
Notice of Transfer	Notification by the seller that a vehicle has been sold to SOK. This does not transfer ownership.
Odometer	Mileage reading on a vehicle. Updated during transfer of ownership.
Plate To Owner	License plates remain with the owner rather than the vehicle. When a vehicle is sold, the license plate may be renewed and transferred to a new vehicle at time of purchase. Plates may not be transferred to a vehicle already titled in the owners name.
Rebuilt	A salvage vehicle may make repairs and pass a rebuilt inspection to be made road worthy. Vehicles coming out of salvage will be considered rebuilt.
Registration	Yearly renewal to keep vehicle current. Also refers to the receipt that is to be kept with the vehicle to show current status.
Repossession	A lien that has been defaulted on allows the lienholder to repossess the vehicle and obtain a repossession title. Lienholders must obtain a repossession title before transferring ownership.
Sales Tax	Tax due at time of ownership transfer. Exemptions may be different from excise tax exemptions.
Salvage	A vehicle ten (10) model years and newer which has been damaged by collision or other occurrence to the extent the cost of repairing the vehicle for safe operation on the highway exceeds sixty percent (60%) of its fair market value at the time of loss but less than 80%. Salvage vehicles can be rebuilt to be made road worthy.
Special Mobilized Machinery	Special purpose machines or devices, either self-propelled or drawn as trailers or semitrailers, which derive no revenue from the transportation of persons or property, whose use of the highway is only incidental, and whose useful revenue producing service is performed at destinations in an area away from the traveled surface of an established open highway. Special mobilized machinery requires a qualification certificate at the time of initial titling.
Tag	Also known as the license plate.
Title	Ownership documentation to your vehicle. Should be in your full legal name (including things like suffixes).
Title Holding State	If a lien is active against a vehicle, the title is held by the lienholder rather than the owner until the lien has been released.
Transfer Upon Death	Notification of owner's intent to transfer ownership to another upon their death. Ownership does not transfer when this is filed. After the owner's death, the transfer upon death recipient must come to SOK or a licensed agent to transfer ownership.
UTV	A vehicle powered by an internal combustion engine, equipped with seating for two or more people and a steering wheel, traveling on four or more wheels. May be registered off-road or for street legal use with the proper safety equipment.