Open Title Purchase
I was looking at a trailer online and it was reported to have a clean title. The seller explained he had the title after purchase from a family member original owner who signed the back of the title....
Forum Discussion
1L243 wrote:
The seller in this case is not the person who's name is on the title. The sellers name does not appear on any of the paperwork but he possess the signed title from the registered owner.
Theoretically I could give the seller all the money and take the trailer but the registered owner could cry foul if the relationship between the title holder and the seller is not lagit. Not a chance I am willing to take.
You just agree that final monies do not exchange hands until you the buyer has a clear title in your name in hand.
If that agreement can be reached the transaction can be completed.
Are you penalizing yourself or the seller by walking away from an otherwise desirable RV?
