Legal Question in Insurance Law in Louisiana

Selling a Used car - ownership transfer?

When selling a used car - does ownership transfer when the vehicle is paid for, vehicle is exchanged, and bill of sale produced or is it when the title is actually transferred? I already sold a car, and am waiting on the title now. Do I still own the car?


Asked on 9/10/02, 5:06 pm

1 Answer from Attorneys
Andrew Casanave Andrew M. Casanave

Re: Selling a Used car - ownership transfer?

This is more complicated than it seems.

If you purchased the car it is yours. Whether or not you get the title(assuming you filed the transfer of title with the Office of Motor Vehicles) depends on whether or not you have a lien on the car. If there is a lien, then you will get title when the loan is paid in full.

Since this is in the "Insurance Law" category, insure the car immediately.

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Answered on 9/10/02, 7:49 pm


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