WV HB4881

Removes the $9,500 loan value cap that previously limited when automobile dealers, licensed automobile auctions, motor vehicle repair facilities, and towing companies could obtain title to abandoned or junked vehicles left on their property

Allows these businesses to file for a certificate of title and registration with the Division of Motor Vehicles regardless of the vehicle's value, after following proper notification procedures

Maintains existing requirements that the vehicle must be abandoned on the business's property and that the owner/lienholders either cannot be identified or fail to claim the vehicle after proper notice

Eliminates the provision that would have adjusted the $9,500 threshold every five years based on the Consumer Price Index