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who would own the veheicle?

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carrie1431 | 02:25 Wed 02nd Jul 2008 | Motoring
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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
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Avatar Image NiceCupOfTea
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.
03:18 Wed 02nd Jul 2008
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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
16:50 Wed 02nd Jul 2008

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