My name is XXXXX XXXXX I'd be happy to answer your questions today.
If you just want to give a gift to your friend, all that is necessary is that you sign the title
over to him. From a legal perspective, there is only an issue if there is any evidence that the vehicle was transferred to avoid a legal obligation, such as to keep it out of the reach of creditors. A writing stating that you are giving him the vehicle as a gift could protect you if any issues arise later, signed by both of you, but it's not required if you have all the other required documentation.
You're also required to complete a Vehicle Vessel Transfer and Reassignment Form (Form REG 262). If you call the DMV
at 1-800-777-0133, they will mail a copy of the form to you. It's printed on special paper, so you unfortunately cannot just download it. The form is filed with the DMV. If you are not the only seller listed on the title, you'll need to produce the REG 262 you got when you bought the car. Then, you have to do an odometer disclosure (there are some exceptions, outlined at the following link). The mileage is usually stated on the REG 262 or on the title itself.
To protect yourself, you also are required to submit a Notice of Transfer and Release of Liability. This lets the DMV know that you have given the car to someone else and are no longer the legal owner. You can print and mail in the form, or complete it online.
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