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I am selling car and need to put lien on the title until buyer finishes paying. where do i sign?
Wiki User
∙ 16y ago
I think you conduct the sale at the bank that has the lien. Once the sale is over, transfer the title over to the buyer by signing the back of the form and add odometer reading. Do this carefully or else if there is a mistake, when you try to sell the car, they automatically deduct $1500 if there is any discrepancy.
Wiki User
∙ 16y ago
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Do you have to pay taxes when selling a motorcycle?
You don't have to pay taxes when selling a motorcycle, but the buyer has to pay taxes when he goes to the title agency. Some people say the vehicle is a gift so they can avoid paying tax.
How can you sell a car with no title and get money for it?
If you are the legal owner of a car, have it register, and have simply lost the title, you can apply for a replacement through your state DMV. If you are the legal owner of a car but do not have a title for it, you can sell the car with a bill of sale and the next owner can attempt to a quire a title for it. You will have difficulty selling the car for anything like it's actual value. If you are still paying for the car, and as such haven't gotten the title yet, you can not sell the car as you do not own it, the bank does. Selling a car you are still paying for is fraud as you are selling something that doesn't belong to you. If you do not own the car, but are trying to sell it this is also fraud as you are selling somethign that doesn't belong to you. if u own the car straight out & just trying 2 sell it - all u have to do is go to the department of lic. with the BUYER & sign a "release of interest" form, it has to be notorized so both u & the buyer have to sign it with a notary present - its easy !!!
Selling a car without a car title?
These type of transaction is illegal since there was no car title that has to be presented in selling that car.
Are both signatures on title needed when selling a car?
If the title has more than one name on it then yes. Or if you mean buyer and seller signature that is also yes.
How do you sell a car if the money from a private party will be used to cover what you owe on the title?
Take the buyer & title to the car with you to the lender that holds the lien on the vehicle. Use the money he is paying you to pay off the loan and get a lien release from the lender. Sign the car over to the buyer at the lender's place of business. Take this lien release and the title with you and the buyer to your DMV, and transfer the car into the buyer's name.
How do i protect yourself when selling a truck in payments?
keep the title until they finish paying it off.
How can you avoid repossession by selling the car yourself without the title?
You cannot "sell" a car without the title because the title is proof of ownership. Without the title the buyer can't register and insure the car.
What does open title mean?
When the owner of a car signs the title, it becomes and open title, and the holder of the title is the owner of the car. When selling a vehicle, the owner should not sign the title until they have the money because if the buyer has possession of the open title and the vehicle, they can clam ownership.
When one is putting a car for sale who should take care of car registration?
When you are selling a car, it is the buyer's responsibility to get the car registered. The seller should sign the title over to the buyer and the buyer is then responsible to take it to the license bureau for further action.
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
How do you sell a car you still owe money on and the bank is not local and the buyer is paying cash?
Contact the bank for the payoff amount. Send them that amount and they will send the title. You can then transfer the title to the new owner.
Can I put a lien on a car title I'm selling if the buyer is making payments to you?
You can if you listed yourself as the lien holder of the car at the time you transferred the title to the person making payments. If you did not do this at the time you transferred them the title, you can not legally do anything.
