Bill of Sale..........

[LETTY]

I have a question concerning the proper exchange of a vehicle. I have been paying a car note and insurance on a vehicle that been in someone else's name since 1995. I am ready to make the last 4 final payment on the vehicle in a day or two. I have been advised to have the title owner of the vehicle to sign a bill of sale on the day of final payment plus have it notorized at the bank of which it will be paid. Would this be a proper way to handle the matter? Does a signed bill of sale show he is passing ownership of the vehicle to me?Would it stand in a court of law?I do have all my reciepts either paid in cash or by check directly to the bank. Second question....On the insurance it was paid to the owner every month by check or money order. I found out through the insurance co. that insurance on the vehicle has been about $20 less then what I have paid to the owner since 1995. All my reciepts for insurance state payment for insurance and mostly all paid by money order. Would this be cause to ask him for payment back on all monies over paid. If he does not coroporate can I take him to small claims court. All arangement made five years ago were made verbally. Your input would be greatly appreciated...Thank You..

 

[lawrat]

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


I am assuming this: you drove the car and it was in your possession but someone technically owned it and had the insurance on the car. Guess what? Insurance fraud! Don't ask for that additional money back. Take it as payment for him putting himself in potential liability for you.

As to the car payments, transfer ownership and title, and pink slip and insurance now.


Hope this helps.