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There was a lot of wrong info when this came up in the past. It really depends on the laws of your state. In California, your friend can payoff the lease and you can sign the title over to him without paying sales taxes if the transfer is done within 10 days. Your friend would obviously have to pay the sales tax when he registers his car with the DMV. People went crazy on me in this forum when I said I did exactly this and there were no issues whatsoever with CA DMV. Of course you’d have to check the specific laws in New York for your situation.
Bottom line is, don’t believe the internet as there was just plain wrong info being pushed... don’t even believe what I’m saying. Use these forums as a resource and just check directly with your local DMV.
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