selling a car where bank holds title.


  #1  
Old 05-06-04, 10:48 PM
doofdog
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selling a car where bank holds title.

I am selling my car and the bank won't release title until they have the money. what can I do for the buyers in the mean time while we wait for title. do I hand it over and keep it in my nake takeing a big risk or let it situntil title comes in.
 
  #2  
Old 05-07-04, 07:42 AM
slumlordfrank's Avatar
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I'm not sure how "lien" titles work in Mass., but when I've bought cars with liens on them I've taken my money, the sellers money, (they've generally been upside down) and gotten a cashiers check made out to the lender. We then have the "released lien" mailed to the buyer (me) and I take the car with me once I've shown proof of insurance and we've both signed the state's forms.

By signing all the forms the seller doesn't need to sign the released one when it shows up. This stuff is done every day at car dealerships, someone in Mass. must know how to do it.

Frank
 
 

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