Legal Question in Admiralty Law in Florida

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?

Asked on 5/21/12, 8:40 am

1 Answer from Attorneys

David Slater David P. Slater, Esq.

if you keep title, you are potentially liable.

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Answered on 5/21/12, 9:48 am

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