My wife's dad is giving us his vehicle and I'm trying to figure out all the paperwork that goes with. It looks like I need to fill out form 14-317 (Affidavit of motor vehicle gift transfer) and pay the $10 gift tax. Also need to fill out form 130-U (Application for title and registration) and pay the title and registration fees and take both to the Fort Bend county tax office.

Is there anything else I'm missing? Seems pretty cheap to do this.

That's it.

It really is that easy and cheap.

I did have to pay additional $ because the car did not have a Texas license tag.

The hardest part for me was the three hour wait at the tax office.

Thank you both for the confirmation, seems too easy and thought I was missing something.

For those gifting a vehicle to someone in the family, does the gifting of a vehicle go toward the maximum gift value per year you can gift without facing additional taxation?

I think there is/used to be a max 10K gift/year without raising tax issues, and wondering if this was still the case and if the gift of a vehicle goes toward that said 10K/year.

We looked at this, too. The IRS allows you to give away $15k per person per year.

If you're married, you can give away $15k per spouse (so the car could be worth $30k).

There is an IRS form 709 that the givers are supposed to complete. If the car is above the IRS limit, you still don't pay taxes on the difference. Form 709 shifts any tax liability over to the estate, and it's eventually subtracted from your estate tax exemption.