Legal Question in Business Law in Indiana

I am buying a used car from a private party. I am going to be making payments directly to the seller. Is there someway i can get a contract that says if I miss a payment he gets the car back?? also will I receive the title or can he hold on to it?? Any information will be great!

Thanks!


Asked on 7/11/10, 8:18 pm

2 Answers from Attorneys

Sure you can hire counsel to draft a contract for you and the contract should give you title if the owner will agree to doing so. He can opnly give title if the vehicle has been paid off by him.

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Answered on 7/12/10, 5:28 am
Kevin B. Murphy Franchise Foundations, APC

The other attorney is right on point here. It all depends on what you both agree to in the contract of sale. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 7/12/10, 7:10 am


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