Gaddy Ex Rel. Sox v. State Farm Mutual Automobile Insurance

ARNOLD, Judge.

Lee B. Franklin’s insurance policy provides coverage to the “owned” automobile described in the policy, to a newly acquired “owned” automobile for the first thirty days after acquiring ownership, provided that the new automobile replaces a previous “owned” vehicle, and to any “non-owned” automobiles as defined in the policy. Under North Carolina law, an automobile is not “owned” within the meaning of an automobile liability insurance policy until the transferee obtains from the transferor a properly executed certificate assigning and warranting title. G.S. 20-72 (b); Nationwide…