0
Both. The purchaser benefits in knowing that the property title has been researched and will be stood behind to cover losses and legal costs to protect you property title. The seller benefits in the same way, being that as long as you are not the type to try to defraud someone by selling property you don't own without question, you don't have to worry about the buyer taking you to court and running you into bankruptcy. If, however you aren't absolutely certain you have free and clear title, understand that should the title insurance company have a loss for something you knew about or should have known about, that you will be sued by them and will pay all their losses and legal costs.
Wiki User
∙ 7y ago
Add your answer:
Earn +20 pts
What is difference between marketable title and insurable title?
What is difference between marketable title and insurable title?
What arethe principles of deferred indefeasibility?
If a person forges a title owner's title and sells the title to an oblivious purchaser, the purchaser's ownership can be challenged. If, however, the purchaser sells to a new purchaser before the original owner makes claim, the new purchaser's title is indefeasible.
What if i got a motorcycle but the seller nevr sent me the title?
If you get a motorcycle but the seller never sends you the title, you should contact the seller. If the seller still does not give you the title, you should take the seller to court. The seller is obligated to provide you with a valid title so that you can register the car.
Who owns the car when title is signed off?
The purchaser.
If the car won't pass smog but the buyer still wants to purchase the car is the seller still responsible?
Sold as is means you are not responsible. You are selling it as it is. Unfortunately in California there is no AS-IS clause for vehicle sales. If it is registered as operational and you sold as operational then the seller is responsible for smogging it. The title of an operational registered vehicle can NOT be transfered without a smog certificate. If it does not pass smog, the purchaser can require the seller to pay for repairs to pass smog. The work around is to register the vehicle as Planed Non-operation (PNO) and sell the vehicle as non-operational. It may not be driven or parked on a public street and would need to be towed from it's residence by the purchaser. The purchaser would then not be able to drive or operate the vehicle on public roads until they registered it as operational. The purchaser would be responsible at that point for smogging the vehicle since they would be the title holder at that time.
Where at on a title does the seller sign?
under the title
Can you take the vehicle from the person not paying the loan if you are the guarantor of the loan?
If there is a specific contractural agreement between seller and buyer and a lien has been officially filed against the title of the vehicle, then assuming the purchaser is in default of the loan - then yes.
Does switching a car title do anything to car insurance?
Only to the extent that the person must have an insurable interest in the car. If I transferred title to you on my car I can no longer insure it since I have no insurable interest in the car. If you transferred title to your child who still lives at home you could continue to insure it.
Is the buyer or seller responsible for title insurance in Texas?
The seller is required to provided a clear title; purchasing title insurance is generally a part of this.
How do you transfer ownership of land?
You must transfer the ownership by deed of a gift which requires the same signatures and witnesses as a deed but no consideration is required of that other to render the transaction enforceable
Can you get your name on a car title if you are not the one purchasing it?
Only if the purchaser is ok with it.
You bought a clear without title and cannot the seller HOW to get a title in your name?
The seller needs to sign on the dotted line and give the title to you. You send it to the address stated on the title to have it changed.
