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Yes !! Until the new buyer re-registers the vehicle into his/her name, YOU are legally liable for any damages to people or property as long as your name is on the title. Best to hand carry the title with both seller and buyer to the motor vehicle office and get this done before handing over the keys.

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โˆ™ 2015-07-15 21:02:23
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Q: Are you legally obligated if you turn a used car over to the buyer before the title is in his banks name?
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Related Questions

Is the co-buyer obligated to pay the loan if the buyer defaults?


What is a non-binding contract?

A non-binding contract is considered to be an informal contract. It means both the buyer and the seller are not legally obligated to go through with the bid.

What if the buyer does not get the title in their name?

if da buyer does not get da title in their name legally is not ders

Can an auctioneer legally take a bribe from anyone like a potential buyer?

No, an auctioneer can't legally take a bribe from anyone like apotential buyer.

Can a buyer move cattle onto land before closing on the sale?

No, because technically and legally that would be perceived as cattle rustling, especially if the buyer "forgets" to close the sale and make the payment after taking your cattle. The money must be paid in full before the buyer can legally remove the cattle from your land. If he/she cannot make the sale, the cattle must stay. No ifs, ands or buts!

Is the cosigner of an auto loan responsible for the loan if the loan was refinanced by the buyer without the knowledge or consent of the cosigner?

No, the refinancing without the consent or knowledge of the original cosigner created a breach of the original lending agreement and the cosigner is no longer legally obligated for the debt.

If there is a buyer and co-buyer and the buyer does not want the auto can the co-buyer take over the loan because the buyer gets all the credit?

The co-buyer should contact the LENDER and ask to have the buyer removed from the loan. Nothing can be done legally without the LENDERS approval.

What is the banks definition of a first time buyer?

Mostly banks don't have buyers. They have investors and account holders. New customer!

Is it legal for someone to sell a property when they are aware of an unsettled encroachment?

The seller is obligated to notify the buyer of the problem. However, a buyer is also obligated to do everything possible to protect their investment. That includes having a comprehensive title examination performed by a professional and having a surveyor review the lot lines and draft a plot plan. The surveyor would specifically be looking for any encroachments. Buyer beware.

How long is a seller obligated to pay commission to a real estate agent after their contract has expired before you can sell to someone new that the realtor had no communication with?

I would hope this was covered in the contract you signed. There is usually a protection period but it extends only to buyers that looked while listed with the brokerage. If your buyer has never seen the house and your contract has legally ended, you are free to sell right away.

Can you legally sale a car with no working brake or blinker?

Yes, but the buyer must be informed.

Can an owner let a buyer take over payments on a house if it is still in the banks hands?

It is possible. Some banks and lenders will allow a buyer to assume payments on an outstanding mortgage. You will need to contact the lender who currently holds the paper on the property.

Can the buyer of a car legally repossess the car from the co buyer if the co buyer has made all payments?

If they are a co owner on the reg, they have as much right to it as you-essentially, neither one of you can keep the other from using it paid for or not.

When does a buyer extort money from seller for repairs?

Extorting money from anyone sounds slightly criminal. When a buyer knows, from a reputable inspector, for example, that repairs are required to a property, the buyer can request that the seller consider that expense in the sale price. Neither the buyer nor the seller is obligated to move forward with the purchase if no agreement can be reached over repairs.

What rights do the co buyer have if the primary buyer pays the car off but the co buyer has made all payments before that?


Do you legally have to disclose that a car has a salvage title to a buyer?

Yes you do have disclose a salvage titled vehicle.

If you post something on eBay do you have to sell it?

Buying and selling on eBay enters both the buyer and seller into a legal contract. If you list an item for sale on eBay, you are legally obligated to sell it to the highest bidder. You can use a reserve price to avoid selling if the auction doesn't reach the minimum price you are willing to sell for.

First home buyer should wait how long before refinancing?

First home buyer should wait how long before refinancing?

What is the difference between the buyer and co-buyer?

Nothing. They are just two people saying they will be responsible for the loan. The difference is where you sign on the contract. Legally there is no difference. The co-buyer by signing is saying that they will insure the loan gets paid. If the loan does not get paid the co-buyer can have wages garnished and basically get the wrath of someone else not doing what they are supposed to.

Can a seller back out of a signed agreement to sell a car if they refund your deposit?

Not legally unless the buyer agrees to it.

When does the buyer legally own the property on which he is closing?

The buyer becomes the legal owner when the deed is delivered. However, the deed must be recorded immediately in order for the new owner to become the record owner.

How old does one have to be to buy a car in KY?

To buy a car anywhere in the United States, the buyer must be legally able to enter into a contract. To be legally eligible, the person must be over the age of 18, or must have been ruled by a court as an emancipated minor. As long as the buyer meets either of these requirements, he or she is legally allowed to enter into a contract and thus allowed to buy a car.

Landlord is selling the house how long can you legally stay in the basement apartment before moving?

It depends on whether or not you signed a legally enforceable lease. If you didn't sign an official lease (i.e. you & the previous landlord had a verbal agreement), you're at the mercy of the new buyer...if the buyer decides to kick you out, you're out of luck. If you signed an official lease with the landlord, the new owner must follow the procedures outlined on the lease if they want to kick you out. If you're on a month-to-month lease, and it specifies that you must be given 30 days' notice before termination, then the new owner has to stand by that. If you're on a longer-term lease (1 year, for example), the new owner must either let you stay for the duration of the lease, or follow the lease's outlined procedures to kick you out (usually 30-60 days' notice). In either case, the new owner is legally obligated to return any security deposit (plus interest, if applicable) to you at the end of the lease.

Who is the Transaction Broker in real estate?

A transaction broker, however, remains legally neutral, and can assist the buyer and the seller in a transaction.

If a person is buying property but has not yet paid for it can he remove anything off of the property legally in pa?

No. The buyer does not own the property until the seller has executed the deed to transfer title to the buyer and the deed has been recorded in the land records. The buyer has no rights in the property until they have taken title.