Legal Question in Business Law in New York

Re: selling a car

If your agreement doesn't address when the transfer will occur, you can safely assume it will be within a reasonable amount of time. Three months probably isn't reasonable, but an attorney could go over the documents (emails, etc.) and help you decide. If so, you can hold the money paid safe in an interest bearing account and sell the car to someone who will take it off your hands. You are still responsible for keeping the car safe; so don't just abandon it in front of your house or elsewhere. Just remember you have to return the money if the original buyer comes looking for it or the car.