Legal Question in Consumer Law in Florida
Owner liability in resale of motorcycle
I am selling a motorcycle to a friend who can't qualify for the loan. He has been paying me, then I pay the bank. I am concerned about liability since he is riding it and my name is still on the title. We have no contract, is there such a form that will protect me as the loan holder while he is the actual driver? Should this be a concern for me? I also hold the insurance, though he is named as a driver on the policy.
Thank you!
Asked on 8/17/03, 12:44 am
1 Answer from Attorneys
Alexander M. Rosenfeld
Rosenfeld & Stein, P.A.
Re: Owner liability in resale of motorcycle
You should sell the bike to him and retain a security interest.
Answered on 8/29/03, 2:12 am
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