Legal Question in Product Liability in Georgia
Personal Gifts
I am in a personal relationship with someone here in Atlanta and we are not married. This individual has just purchased me a car as a gift and it is in his name. I am wanting to have a legal contract drawn up stating that this was a gift and this car is completely my responsiblity because it is in fact mine. He and I have discussed it and he is willing to sign the document. In the event that he and I break up, and he decides to take it back will this document hold up in court ? What steps would I have to take to secure that he cant take it back?
3 Answers from Attorneys
Re: Personal Gifts
There probably is a way to craft an agreement that you accomplish your objectives; however, the terms of such an agreement are different that the details that are suggested above. The cost of drafting the agreement would be nominal.
Re: Personal Gifts
As stated in one response, there is no mystery document requiring a lawyer -- get the title.
Re: Personal Gifts
If the car is paid for, forget the agreement. He should just sign over title.
If it's not paid for, an agreement would be useless, as one can't transfer a loan and an item encumbered by a security interest without the lender's consent. In such a case, to transfer the car, you'd need to refinance it in your name, and have it put in your name when it's refinanced.
Related Questions & Answers
-
Diamond not what was thought to be My husband purchased my diamond engagement ring... Asked 11/24/06, 10:25 pm in United States Georgia Products Liability