When you buy a car in the U.S., the seller hands over the car and the buyer hands over the money. The seller also hands over the title, which is physical proof of ownership, which you also need to register and insure the vehicle. The title document isn’t just a sheet of regular old paper, either; instead, it’s specially made with various security features to prevent counterfeiting. The problem now, according to a recent report in The Wall Street Journal, is that there simply isn’t enough title paper around.
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