What is the name of your state (only U.S. law)? NC
I loaned a now ex-boyfriend $7,000 for a motorcycle while we were still living together. I had him sign an agreement saying he would be me back within 6 months. However, is that the only way I can protect getting paid back? Should I have him sign the title over to me until then? I wasn't sure if signing the title over to me would make me legally responsible if something happens on the bike. I know he has minimal insurance on the bike. Thank you.
I loaned a now ex-boyfriend $7,000 for a motorcycle while we were still living together. I had him sign an agreement saying he would be me back within 6 months. However, is that the only way I can protect getting paid back? Should I have him sign the title over to me until then? I wasn't sure if signing the title over to me would make me legally responsible if something happens on the bike. I know he has minimal insurance on the bike. Thank you.