(a) If an owner transfers his interest in a vehicle, other than by the creation of a security interest, he shall, at the time of the delivery of the vehicle, execute an assignment and warranty of title to the transferee in the space provided therefor on the certificate or as the commissioner prescribes, and cause the certificate and assignment to be mailed or delivered to the transferee. The assignment and warranty of title required by this section shall include a statement signed by the transferor stating either, (i) any facts or information known to him that could reasonably affect the validity of the title of the vehicle; or,(ii) that no such facts or information are known to him.(b) Except as provided in section two thousand one hundred fourteen, the transferee shall, within thirty days after transfer to him of the vehicle, execute the application for a new certificate of title in the space provided therefor on the certificate or as the commissioner prescribes, and cause the certificate and application to be mailed or delivered to the commissioner. The application required by this section shall include a statement similar to that required to be included in an application for a first certificate of title by paragraph (4) of subdivision (a) of section two thousand one hundred five of this chapter.(c) Except as provided in section two thousand one hundred fourteen, a transfer by an owner is not perfected so as to be valid against third parties generally until the provisions of this section and section two thousand one hundred sixteen have been complied with; however, an owner who has delivered possession of the vehicle to a bona fide transferee and has complied with the provisions of this section and section two thousand one hundred sixteen is not deemed an owner within the provisions of section three hundred eighty-eight of this chapter, and, notwithstanding any other provision of law, shall not be presumed to have caused such vehicle to be abandoned for purposes of subdivision seven of section twelve hundred twenty-four of this chapter if the owner has retained a copy of the assignment and warranty of title. Failure to retain such copy shall not preclude such owner from rebutting any presumption contained in such subdivisions.N.Y. Veh. and Traf. Law § 2113