Auto titles and liens

[tnt972]

If you purchase a car and decide to give it as a gift, the loan will stay in your name. My question is....can you transfer the title into that persons name even if there is a lien on the vehicle? If so what are the consenquinces?

 

[lawrat]

Think about what you said. You need to confront the loan company and ask them to assign the loan to the new owner of the car while releasing you of all responsibility. After all, they gave YOU the loan.


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I am a law school graduate. What I offer is mere information, not to be construed as forming an attorney client relationship.