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56

In the case of a vehicle with a lien, there is a specific place on the title to have a lien holder listed, and the holder of the lien will also hold the title until the lien is cleared. Usually this means you have to pay off the loan when you purchase the vehicle. If that loan is held by a bank, meet the seller at the bank and pay the loan directly with ...


24

The old truck is collateral for a loan. The place that made the loan expects that if you can't pay they can repossess that old truck. If you sell it they can't repossess it. The dealer needs clean title to be able to buy the truck from you, so they can fix up the truck and sell it to somebody else. I am assuming the the lender has filed paperwork with the ...


16

It's extra work for you to purchase a vehicle that has an outstanding lien on it. It's not uncommon, but there are things to take care of and watch out for. Really, all it means is that the vehicle you're trying to purchase hasn't been paid for in full by the current owner. Where things can get dodgy is ensuring that all outstanding debts are paid against ...


8

If your fiancée took a title loan out on your truck you won't be able to trade it in for another vehicle until you pay the loan. The dealer will likely take your "slightly newer" truck back because you won't be able to produce the title for the trade until the other debt is settled. Title loans are a terrible idea. You should probably try to pay that loan ...


8

You go to a lawyer and tell them what you want to do. You need a lawyer because you want to make sure a transaction like this is watertight. Lawyers know exactly the right way to do this In your jurisdiction.


7

If his name is on the title, he (shared) owns the car. You cannot one-sided remove him from that, he needs to agree. If he agrees, you both together (current owners) can sell the car to you alone (future owner), and you get a new title with only you. There is probably a short-cut to that, like a quit-deed, but certainly not without his agreement (or a court ...


7

Make sure I am reading this correctly. You signed the car over to you BF, he took a loan against it and gave you the money? If so, you sold him the car and any use you have had of it since was at his consent. Outside of a written contract saying otherwise (and possibly even with one) it is now his car to do with as he pleases. It sucks that things are ...


6

There are several ways that I could have dealt with this problem, after meeting with the local city planners, we decided the easiest way was to amend the subdivision that the neighboring homes belonged to. If I was dealing with only one or two neighbors, it would probably have been cheaper to do a boundary line agreement with each one. The process involved ...


5

Your first step is to talk to the current lender and ask about refinancing in the other person's name. The lender is free to say no, and if they think the other person is unlikely to pay it back, they won't refinance. If you're in this situation because the other person didn't qualify for a loan in the first place, the lender probably won't change their mind,...


4

Unfortunately, you don't have any good options. Your credit report is going to be affected no matter what you do because payments have already been missed. You want to avoid having the car repossessed because that will affect your credit for a long time. Your best (well, least sucky) path toward a solution is to get your ex to cooperate. Working it out with ...


4

Unless you are investing an insignificant amount of money for the home and renovations, you need title insurance. Without it multiple other parties can claim ownership in this property you are purchasing and investing in. Also you can know if there are any liens against the property which can cost you a significant amount in addition to the costs you are ...


4

You can follow these instructions at the California DMV page and transfer the title. Depending on whether you and your sister are titled with AND/OR, you may need her signature to transfer ownership to yourself only. There is a $15 fee and the car needs to be able to pass emissions, etc. This is the exact same process as you would go through to sell the car ...


4

A lien is a mechanism to impede legal title transfer of a vehicle, real property, or sometimes, expensive business equipment. That's why title companies exist - to make sure there are no liens against something before a buyer hands money to a seller. The lien can be attached to a loan, unpaid labor related to the item (a mechanic's lien) or unpaid taxes, ...


4

It doesn't sound like there is any sort of "gift" in this particular transaction, with the exception of two things. If the amount you ultimately gave your parents is less than the original paid amount for the car, then that difference would be a gift on their part to you. What this sounds like is a loan arrangement, where your parents paid up front (and ...


3

I've done this twice in my life. Once when removing my mom from a my first car once I had finished paying the loan (she co-signed for me) and once when assuming ownership of my grandpa's car after he passed. The transaction is no different than a plain vanilla sale in the eyes of the CA DMV. In your case both owners would fill out the current pink slip and ...


3

Everybody on the car title will need to participate in the selling process. The person who is buying the car will need everybody to sign the paperwork so that nobody months later tries to say they never agreed to sell the car. The money will have to be sent to the lender to pay off the rest of the loan. If the money isn't enough to pay off the loan ...


3

You can't take him to court or sell the car because you are not on the title. It is his car, and unfortunately there isn't much you can do to make him change the situation unless he decides to be cooperative and do the right thing. When you co-signed, you made a promise to pay if he did not or could not pay. The best option would be to find a way to satisfy ...


2

The other person has to decide that they want to be wholly responsible for the loan, and they have to be able to qualify for the loan. They are in essence purchasing the car from you with the sale price being the remaining balance of the loan. You will then use the processed from the new loan to pay the old loan off completely. They will then take the bill ...


2

In my state(Utah) you will have to contact your city or county planning commission. They all seem to have their own criteria and paperwork to do this.


2

Owner A and Owner B together could deed the property to Owner A and Owner C as the new joint tenants with survivorship.


2

I know nothing about selling planes, but I have had people ask me to do this with used cars. It happens when the buyer wants to buy the car from you and then resell it quickly. From their point of view if they buy the car from you, the paperwork for the transfer has to go through the appropriate bureaucracy and the buyer doesn't get papers proving they are ...


2

I don't think there's anything to worry about. TFS doesn't really care who's paying, as long as the loan is being paid as agreed. Of course you're helping your dad's credit history and not your own, but I doubt TFS would give back money just because it came from your bank account. A business may claim a payment wasn't made against the loan, but you'd have ...


2

Adding your wife to the title may or may not have a cost, depending on your locale. Contact the mortgage lender to find out. I would imagine in most cases if they're filing a title for the refinance, it won't be an increased cost, but definitely ask them. Adding her to the mortgage may also have a cost: depending on her credit history and income, it may ...


1

You can always march down to the finance company, hand them a check, and boom the car is paid off as far as the finance company is concerned. That may have already happened. Until it does, the finance company has a lien on the car. Now, the government also has a lien on the car. There are many ways to sell a car; some of them are managed by competent ...


1

A quitclaim deed says, in essence, "whatever ownership I have in this property I give to you". Contrast that with a warranty deed, in which the grantor guarantees that he has good title, that he has the right to convey the property, that it is free of all liens and encumbrances, and that he will warrant and defend your title in the event of a breach. ...


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