Legal Question in Credit and Debt Law in Nevada

Without knowing more - I would say the holder of the bill of sale owns the property, subject to - or second in line to the lien on the property held by the lender. The only foolproof way to pass title to a car or a house - or equipment and the like, is to pay off the note - the loan - as part of the sale. If owner wants 1000 dollars and owes, 900 dollars, you agree that after the note is paid off, and you do this with a check to the lender, after the lender agrees that it will send you the title and you get a contract with the seller saying he will sign the title over to you - or an arrangement like that. It's tricky and if the seller is dishonest the buyer can get 'hurt'. It's best to have the seller with a title in hand, though there are ways to do it and DMV, I believe has the documents which might include a power of attorney to the buyer to sign for the seller. But buyer has to make sure he gets the actual original physical title or buyer may waste his money paying the note.

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