Legal Question in Civil Litigation in Georgia

transfer of automobile to person not on loan

I am the loan holder of a financed car but want to give the car to someone else who can not qualify to assume the loan. How can I transfer the liability to that person without removing myself as the loan holder? The person agrees to maintain the payments and insurance. Would I still be responsible if they were in an accident?


Asked on 12/27/07, 8:13 pm

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: transfer of automobile to person not on loan

Read your contract - the terms you agreed to when you signed. It will likely prohibit what you want to do, and for obvious reasons. You also will not be able to transfer title with the lien on the car. Even if you could do it, it is almost always going to be a bad idea.

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Answered on 12/27/07, 8:20 pm
Charles W. Field Charles W. Field, Attorney at Law

Re: transfer of automobile to person not on loan

Being responsible for the loan and responsible in case of an accident are two different things, but both of these should concern you. Consult with a local attorney.

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Answered on 12/29/07, 3:31 pm


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