What is the name of your state? NY & PA
I am selling a car (I live in NY) to a friend of mine that lives in PA. My title has a lien on it... but i paid off the lien last year. I have misplaced the lien release paper and am working with the bank to get another. My screwup.
We would like to do this deal on Wednesday because of some serious scheduling conflicts for the next few weeks.
If I don't get the lien release by then... can we do a bill of sale... he gives me an official check for the car... and I sign the title over to him and give him both documents... and i get a copy of the bill of sale.
He would insure the car under his name (i'll verify this with seeing his temporary insurance card)... and he would have to drive the car back to PA with my licence plates. When I get the lien release... i just fed-ex it to him... and he fedex's back my tags.
Is this scenario doable? Whats the best way to do this deal if I don't have the lien release right away.. but he is willing to give me the cash for the car because he trusts me that this loan is paid off (which it is)?
I do trust the guy with my car... but I also want to make sure I am protected as well just in case something bad happens (like an accident).
Hopefully ill get the lein paperwork by Wednesday from the bank and all of this will be moot... but if i dont have it... and if we can't do this on Wednesday... its gonna be about a month or so before we can mutually meet up again.
I am selling a car (I live in NY) to a friend of mine that lives in PA. My title has a lien on it... but i paid off the lien last year. I have misplaced the lien release paper and am working with the bank to get another. My screwup.
We would like to do this deal on Wednesday because of some serious scheduling conflicts for the next few weeks.
If I don't get the lien release by then... can we do a bill of sale... he gives me an official check for the car... and I sign the title over to him and give him both documents... and i get a copy of the bill of sale.
He would insure the car under his name (i'll verify this with seeing his temporary insurance card)... and he would have to drive the car back to PA with my licence plates. When I get the lien release... i just fed-ex it to him... and he fedex's back my tags.
Is this scenario doable? Whats the best way to do this deal if I don't have the lien release right away.. but he is willing to give me the cash for the car because he trusts me that this loan is paid off (which it is)?
I do trust the guy with my car... but I also want to make sure I am protected as well just in case something bad happens (like an accident).
Hopefully ill get the lein paperwork by Wednesday from the bank and all of this will be moot... but if i dont have it... and if we can't do this on Wednesday... its gonna be about a month or so before we can mutually meet up again.