Typically you cannot transfer the car title because the person who is financing the car doesnt even have the title, the title stays with the bank. Youd have to go to a dealer with the person and have the dealership work that out
The home owner actually "finances" or accepts payments fom a private individual, in a seller financed mortgage deal. Many homeowners are reluctant to do this for many valid reasons.
To take over car payments from the owner, you will need to contact the lender to see if they allow for a transfer of the loan. If they do, you and the owner will need to agree on the terms of the transfer and complete any necessary paperwork. It's important to make sure you can afford the payments before taking over the loan.
You have to make the payment, but you also need to start forclosure yourself. Get the property back and sell it again.
You need to consult with an attorney who can review your proof of payments, agreement and any documents that you signed and then explain your rights and options.
One can find listings of owner financed real estate at the website "local". This website lists all owner financed real estate in your local area or wherever you want to search for it.
Whatever the interest is the owner can transfer it to a new owner by quitclaim deed.Whatever the interest is the owner can transfer it to a new owner by quitclaim deed.Whatever the interest is the owner can transfer it to a new owner by quitclaim deed.Whatever the interest is the owner can transfer it to a new owner by quitclaim deed.
The short answer is that the person who is on the policy, must have a financial interest in the vehicle.
No. Only the legal owner can transfer the title to a new owner.No. Only the legal owner can transfer the title to a new owner.No. Only the legal owner can transfer the title to a new owner.No. Only the legal owner can transfer the title to a new owner.
There are laws and procedures regarding this, including notifying the owners of your intent to foreclose. A real estate lawyer would probably be a good idea.
The insurance company will pay the lender to the policy limits. This payment will only be made if you have theft coverage and not just minimum coverage. I believe you still have to make the payments, although I am not sure.
To sell a financed car to a private party, you need to first check with your lender to see how much is left on the loan. Then, you and the buyer can agree on a price that covers the remaining balance. The buyer can pay you directly, and you can use that money to pay off the loan and transfer the title to the new owner.
You cannot transfer the title while the lender has a lien on it and they will NOT release the lien until the loan is paid off. They will also NOT allow any names on the title that are not on the loan papers.