So the trailer I want to pay off and get titled in my name is not an assumable loan. That means even if I pay this off, the title goes to the other guy, I have to wait for him to get it, and then he has to sign it over to me. I don't know this guy well enough to just trust him after paying off a 10K loan. I told him that I wasn't going to do that. He mentioned a "Bill of sale". However, I don't know how legally binding that is in my state. I do know it doesn't prove ownership, it just proves we had an agreement. I really want this camper, but I think I may have to back out.

That sucks that it may not work out, but sometimes the best thing is to not do it.

Have you gone in with the seller and talked to the bank holding the loan/title?

Not physically. Many phone calls. It is not an assumable loan, so they must issue title to him. That will take two weeks for him to get it. He will not get it the same day.

The last avenue I can see is a Bill of sale. I just don't know how legally binding that is. He could have a lien, his ex-wife could cause issues, he could drop dead, anything could happen.

Run and if your already running — run faster.

A deal like this shouldn’t be this difficult Fin….. there’s other deals out there . Just need to find it……

Walk away.

Sounds like something a contract attorney could sort out. Might do to talk to one.

Going to try and call one in the morning and see what he has to say about it.

How bout the guy you delt with on your wife's car ? Maybe for a few bucks they can facilitate the deal .

What if the guy wanted to trade it in at a dealer ? They would pay off his loan and somehow get the title . They wouldn't wait around and hope the guy brings it in

There's gotta be a way without the huge risk

I would think so

Yup, that's what I was thinking. I don't know enough about this so I guess it's time for a quick conversation with a lawyer if one will talk with me over the phone.

Fin pm sent

or mabe a pendot title and tag center?

mercer county messenger 724 983 0914

If his loan is through a bank, you can go together with cash money ( no check to clear a different bank). I think the new title can then be issued directly to you in one step.

That depends on the bank. Most branches of larger banks don't hold the title at the branch. It's held at the main one. Which in some instances may be in another state.

In Michigan the seller has title in possession, on that title is a place for lienholder name, next to that is a release of lien sign off. When lien or debt is paid off lienholder signs off. Seller then sells to you, he/she also signs off on title. You have 15 days to take signed off title to dept. of motor vehicles or as we call it Secretary of State.

Have your bank deal with his bank?

Do you know any used car dealers? They would know.