Legal Question in Business Law in Florida

bill of sale enough if lien on motorcycle?

Hi! I am buying a motorcycle from a private Owner. I am paying $7,500 cash. The current Owner has a lien with a Lending Facility (not a local bank). He needs me to give him the cash in order to pay of the lien.

I was going to buy your motorcycle bill of sale kit and I will physically take posession of the bike when I pay him, but I am a little nervous about ''waiting'' 5 - 10 days for the lien release and title to come back to me.

As long as I spell out all of the ocnditions in the bill of sale, is there any danger paying him cash for the bike while not receiving the lien release and clear title until later?

thx!

Lisa


Asked on 5/13/08, 7:25 pm

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: bill of sale enough if lien on motorcycle?

You have got to be kidding . . . . . biggest scam in the world. Give him a check for the lien amount made paytable to the lien holder and you deliver it or mail it yourself. He can have the rest in Cash. Contact the lienholder and get a payoff amount.

Read more
Answered on 5/13/08, 10:16 pm


Related Questions & Answers

More Business Law questions and answers in Florida