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Say "we had a unexpected change in the title & that we now have a new opening in the title"
release the vehicle to the buyer
Well if you have not signed the title over to the buyer or if you have a lean on the title you can have the vehicle repossessed. If you have signed over the title to the buyer without putting a lean on it 1st there is nothing you can do. I own a recovery company and know a few laws. Good luck.
The buyer can present the signed title to the DMV and get title. The family is going to have to honor the title; hopefully they find the situation to be reasonable and that the seller did not sign under duress. Proof of the sale, such as a receipt or a cancelled check would also help shake things out.
Let the potential buyers know that the title still needs to be paid off. First they pay you, you create a bill of sale for them and hold onto the car. Send in the money and wait for the title. When the title arrives, sign it over to the buyer and give them the keys. It is a pain for the buyer to wait, but you shouldn't let them drive off without a title. You would be liable for an accident if they are in one, until the title is signed over.
yes
Yes, they can be sued. Its law.
The bill of sale would be the receipt from the pawn shop where you purchased the motorcycle. You fill in the buyer info on the title.
I co-signed for the loan on my sons car. If there is an accident would they come after me.
If the previous owner signed the title over to you and your name is listed as the buyer then yes you must title it first before anyone else can title it.
You sign the title where is shows seller and fill in the information of the buyer and have them sign as buyer. Its a good idea to make a copy of the title (front and back) just in case the buyer doesnt title it right away so you can prove that you sold it if you get a tax notice.
Yes, but the buyer cannot drive away with it until the title is signed over. You can seal the deal by giving him a bill of sale which is legally binding if you both sign it. This ensures the buyer that the deal has been made and the title is his once it arrives.