When a car insurance company settles with a person on a vehicle that has been determined a total loss for the actual cash value of the car then unless you have negotiated with the insurance company to buy back the car (with now a salvage title) for the salvage value it becomes the property of the insurance company.

The insurance company has in essence paid you for the vehicle so it becomes their property so that they may sell it for salvage and recoup some of the monies they paid out for the total loss claim.

If you want specific New Jersey insurance law on this topic you can contact the New Jersey Department of Banking and Insurance.