If
you sell your Michigan-titled vehicle to a stranger, make sure you keep your
license plates. Also, if any way
possible, accompany the buyer to the DMV to ensure the title is transferred to
the buyer. The last option (the much
less preferred option) is to fill out the seller's portion of the title, sign
it, and keep a photocopy of that title!
All
too often I hear of someone who is being sued for an accident involving a
vehicle that they sold many months (or years) ago. As to be expected, when that vehicle was subsequently in
an accident, the plaintiff's attorney will sue both the owner(s) of record, as well
as the driver. When the buyer doesn't
transfer the title (may not have the money to transfer it), you are still on
the hook as the owner of record, unless you can prove you sold it (reason for
keeping a copy of that title).
But BY FAR, the best solution is to accompany any buyer of your vehicle to the DMV
to make absolutely sure your name is off the title!
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