Legal Question in Intellectual Property in New Mexico

I'm looking to purchase an atv from out of state but have some concerns about the transfer. I won't be able to inspect the vehicle prior to purchase & transfer.

I was wondering what the simplest, most effective way to create a legal binding document would be? If we were to exchange emails describe the vehicle, it's condition, price etc, would this constitute as a legal binding document? I'm just leary of paying for something without having anything to back it up. Other than the title & bill of sale. Which I would have to trust him to send once the shipper picks up the atv. Any help & advice you can offer would be greatly appreciated.


Asked on 12/26/11, 10:12 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Establish an escrow account in a bank in the seller's town containing the agreed-upon purchase price. Have the seller ship the unit to you. within 5 days of your receipt of the ATV you inspect it and either return it at your expense and reclaim the escrow funds, or keep it and the escrow funds go directly to the seller at the end of 5 business days. Obviously the seller must agree to this procedure.

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Answered on 1/03/12, 9:51 am


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