Car sale (by owner) liability
I would like to sell my car but I recently transferred the title from MA to MN and have not yet received the title in the mail. The purchaser wishes to be able to drive the car immediately, I would like to sell immediately, and the title may arrive in as soon as 2 days or as late as 2 months from now. Without transferring the title, is it safe to draft an agreement whereby the purchaser assumes liability for any potential accidents and agrees to pay, out of pocket, any potential fees associated with liability for the vehicle should they be incurred, and have this agreement notarized e.g. at a bank. This is the suggestion on the part of the purchaser as his insurance company won't cover him unless the title is in his name. Are there other safe alternatives, if notarization of such an agreement is not safe, to use in the interim while we wait for the title in the mail so that he can drive the car right now?
1 Answer from Attorneys
Re: Car sale (by owner) liability
This is a contract law question and I primarily represent injured people. For a specific answer I suggest contacting a contract lawyer for his or her opinion. My opinion is that this contract would help you somewhat, but it is not nearly as powerful as the title would be. If there is any way to wait until you can transfer the title, that would be the most prudent procedure.
I hope that I have helped, answered all of your questions, and that I have provided you with useful information. Please contact me if I have not answered all of your questions.
Please be aware that my answer is not legal advice, it is merely information. You and I have not entered into an attorney/client relationship. The only way that I am legally responsible for your legal rights is if you have signed a written retainer agreement with my law firm.
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