Selling an RV with a lien
Hello everyone. I am in the process of selling my Class A. Kids are in their mid to late teens and we are still a few years from retirement so the RV is sitting most of the time unless we can all ge...
Forum Discussion
This is easily done with a purchase and sale agreement coupled with a notarized release of interest. You and the buyer would come to an agreed amount and then go to your bank. At your bank, you and the buyer would sign a legally binding purchase and sale agreement (you can find one online) and notarize the release of interest form. Your bank would either accept the cash or wire transfer for the loan amount and any amount over the loan balance. The buyer would then process the wire transfer from their bank. If the buyer is using a check from their bank then the 10-day rule would apply. The check can be "sent for collection" which means that your bank would send the check via the ACH system to the payer bank for funds transfer. As soon as the funds clear the buyer can take delivery. Technically, they can take the purchase and sale agreement combined with the release of interest form to the Department of Licensing to gain title to the RV. I am not an attorney. This is just like selling any other titled property such as car or boat.
