I am selling a boat and am letting the buyer make payments. I want to be sure I am not liable for him or the boat after the purchase. Should he title it in his name and put me as a lien holder so I can repo it if he falls behind on paying or do I keep the title in my name (as it is now) and have him sign a drawn up document stating he assumes all liability?
1 Answer from Attorneys
if you keep title, you are potentially liable.
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