Legal Question in Real Estate Law in Florida

I am giving my friend a loan to buy a car. Promissory note will be signed. Question is...what does "hold title" mean? Is my name on the title? Can my name be on the title and not connected to his registration and ins? I just don't want to expose myself to anything he may do.


Asked on 12/23/15, 4:02 pm

2 Answers from Attorneys
David Slater David P. Slater, Esq.

If your name is on title you are an owner and liable. Make sure he properly insures the vehicle.

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Answered on 12/23/15, 4:05 pm
Barry Stein De Cardenas, Freixas, Stein & Zachary

You want to be listed on the title as a lienholder. You want to maintain the original title until the loan is paid so he cannot sell the vehicle without satisfying your debt.

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Answered on 12/23/15, 4:09 pm


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