selling a car where bank holds title.

Reply

  #1  
Old 05-06-04, 09:48 PM
doofdog
Visiting Guest
Posts: n/a
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.
 
Sponsored Links
  #2  
Old 05-07-04, 06:42 AM
slumlordfrank's Avatar
Member
Join Date: Mar 2003
Location: Where time and space begin
Posts: 702
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
 
Reply

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread
Display Modes