Can you be punished if you sell your vehicle and leave the license plate on it until the buyer gets their own insurance and registration?

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You can't really be punished, but an parking tickets or traffic violations incurred during that time will be your responsibility, whether you're in the car or not. It gets very tangled, and proving you're not at fault is difficult. It's best by far to take the tags off. The insurance and registration are the responsibility of the new owner.

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