What is the name of your state (only U.S. law)? Georgia
I'm selling my old car that needs some work done to it. The only real issue is that the brakes have gotten weak and need to be fixed. It's still drivable but I could see where it could be a substantial liability.
I'm asking $1200 for the car, and someone wants to give me $800 upfront and pay me the other $400 over the next 4 months. I'm fine with this as I was about to have one of those "we buy cars" places take it anyway.
So, my idea was that I would hold onto the title until it's completely paid off. I just don't know if a contract I write up would hold up in court if say, during the 4 months they're paying me back, they fail to have the car fixed then have a wreck and try to blame it on me since the car was still technically in my name.
Suggestions?
I'm selling my old car that needs some work done to it. The only real issue is that the brakes have gotten weak and need to be fixed. It's still drivable but I could see where it could be a substantial liability.
I'm asking $1200 for the car, and someone wants to give me $800 upfront and pay me the other $400 over the next 4 months. I'm fine with this as I was about to have one of those "we buy cars" places take it anyway.
So, my idea was that I would hold onto the title until it's completely paid off. I just don't know if a contract I write up would hold up in court if say, during the 4 months they're paying me back, they fail to have the car fixed then have a wreck and try to blame it on me since the car was still technically in my name.
Suggestions?