Legal Question in Personal Injury in California
Selling a leased car
I have identified an out-of-state buyer from Washington for my car which is currently leased in CA. He is traveling to CA to purchase the car by paying the pay-off amount to the leasing company in cash and wants to drive the car off upon making the payment. However, the dealer says it will take 3 days or so to release the title. It will be released to me and then I will fed-ex it directly to him in WA. The buyer is planning to take out an insurance policy on the car before taking delivery of it. Is this possible for him to do & more importantly would it release me of liability before the buyer takes possession of the title? We will also go to a notary and each sign a sale agreement and I am thinking perhaps a general release of liability? Do you have any suggestions for my protection? Thanks so much.
2 Answers from Attorneys
Re: Selling a leased car
Mr. Roth has given you an excellent answer.
Follow his advice!
Re: Selling a leased car
Keep your insurance in force until title transfers from you to him. Liability of the owner of a vehicle is limited to $15,000. Also, make sure your agreement states that the risk of loss of the vehicle is his, meaning that if it is damage or totaled in an incident, or stolen, his obligation to pay for the vehicle continues as if title had been transfered.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
