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Question about selling a car

I have someone that wants to buy my car, they want to come over tonight, have me sign the title, he gives me the cash then he has his own plates to put on so I keep mine, the problem is that the BMV is not open right now so he wants to wait until tomorrow to get everything transferred over. But he still wants to take the car tonight and not wait until tomorrow to get it. Is there any danger in doing it this way? After i sign off on the title and take the cash and say he gets into an accident or something can I be held liable since he hasn't gotten everything transferred over yet?

 
AnonNdrag

Asked by AnonNdrag at 6:05 PM on Jun. 14, 2013 in Money & Work

Level 19 (7,783 Credits)
This question is closed.
Answers (6)
  • Then you're fine.
    Even if you buy a new car there's still a bit of a lapse till the paperwork is all submitted, etc.
    PartyGalAnne

    Answer by PartyGalAnne at 6:44 PM on Jun. 14, 2013

  • are you going to a notary?
    PartyGalAnne

    Answer by PartyGalAnne at 6:29 PM on Jun. 14, 2013

  • yeah I have a friend that is a notary.
    AnonNdrag

    Comment by AnonNdrag (original poster) at 6:41 PM on Jun. 14, 2013

  • oh ok cool thank you :)
    AnonNdrag

    Comment by AnonNdrag (original poster) at 6:45 PM on Jun. 14, 2013

  • One thing to think about when you buy a new car you can not take delivery of it until you have insurance in place.. Make sure the DMV knows about the sale and any insurance you have now.
    by2013

    Answer by by2013 at 6:53 PM on Jun. 14, 2013

  • I'm selling it not buying it and in our state you just have to sign a paper stating that you have insurance, they never ask for proof. I assume if the new buyer does not have insurance, then that's his problem, not mine.
    AnonNdrag

    Comment by AnonNdrag (original poster) at 6:54 PM on Jun. 14, 2013

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