Motoring

who would own the veheicle?

We are selling our truck to my brother in law and he will be making monthly payments on the truck. i talked to my husband and we want him to get insurance on the vehicle, so he said that he talked to his insurance company and they wont do it unless he is on the title. so my husband wants to transfer over the title,but if we do that and he doent pay wont the truck already be legally his? and if so what if we make him sign somthing and get it noterized? will that help? thanks, carrie

carrie1431 Wed 02/07/08 01:25

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NiceCupOfTea
Wed 02/07/08
02:18

Go to a lawyer and get a credit agreement. They'll talk you through all the ins and outs. You may need to ring various firms if you don't know anyone who can recommend a lawyer specialising in financial services.

mdoo98
Wed 02/07/08
07:44

US law different from UK law

sigma
Wed 02/07/08
15:50

Don't let him have the truck or transfer the title till he's paid for it.Don't let him drive it as your husband would be liable if your brother in law has an accident

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