Legal Question in Business Law in California

I need to get an old car out of my name. I'm the person with the loan. Sister took it over and now Toyota no longer transfers. I want my sister to put the car under her name. Pretty much I own the car legally but my sister is the one that drives it. I don't want to have it under my name and want her to take over the loan. Any advice on how I can get them to do that from a legal stand point?

Asked on 4/22/13, 9:21 pm

1 Answer from Attorneys

Carl Starrett Law Offices of Carl H. Starrett II

You are the responsible party for the loan. If you want to be released, your choices are limited. You most likely options are: (1) get the lender to agree to transfer the loan; (2) pay the loan off; or (3) sell the car to your sister after she gets her own financing.

This is not a legal issue between you and the lender. It is between you and your sister.

Read more
Answered on 4/23/13, 9:29 am

Related Questions & Answers

More Business Law questions and answers in California