Legal Question in Credit and Debt Law in Florida
auto loan
I'm a private person who is loaning a friend cash on his his car. I filed a lean with the state that it is registed in. What other form do I need.
thankyou
1 Answer from Attorneys
Re: auto loan
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At the least, you should get a promissory note and chattel mortgage on the car. The lien you filed should be with the Department of Motor Vehicles and placed against his car so that it is prior to any other potential lienholders.
Scott R. Jay, Esq.