Legal Question in Business Law in Illinois
Can sell my motorcycle to my friend if I owe the bank for it? I was willing to type up a bill of sale stating that He will obtain sole ownership after the last payment is made. I guess like a take over payment agreement.
Asked on 7/13/10, 3:22 pm
1 Answer from Attorneys
Thomas Moens
Moens Law Offices, Chartered
This might violate your agreement with the bank. The documents would need to be reviewed to know with any certainty.
Answered on 7/15/10, 6:26 am
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