OK so here is the situation:
I just bought an E34 with a broken timing belt.
I am planning on fixing it and selling it for profit.
The PO signed the title as the seller, but I don't have any of my info on it as buyer, nor the mileage, nor the selling price.
However, we signed his release of liability slip.
Oh, and the car is currently in non-op status.
So I was thinking, why transfer it to my name if in the matter of weeks I'm going to sell it? I'm not even going to drive it around, only to make sure it works well after I fixed it.
How illegal is it to have the new buyer sign the title that the PO signed as seller, leaving my name off of it completely? Also, is there a legal way of doing this?
How much would be the transfer of a non-op car's title anyway?
And what can I do about the release of liability when I want to sell it, since the old title doesn't have it anymore?
I'm mostly interested in experiences of CA drivers.
It's not that I want to break the law by all means necessary, I would just simply like to save some money, wherever I can.
Do you guys have any input?
I just bought an E34 with a broken timing belt.
I am planning on fixing it and selling it for profit.
The PO signed the title as the seller, but I don't have any of my info on it as buyer, nor the mileage, nor the selling price.
However, we signed his release of liability slip.
Oh, and the car is currently in non-op status.
So I was thinking, why transfer it to my name if in the matter of weeks I'm going to sell it? I'm not even going to drive it around, only to make sure it works well after I fixed it.
How illegal is it to have the new buyer sign the title that the PO signed as seller, leaving my name off of it completely? Also, is there a legal way of doing this?
How much would be the transfer of a non-op car's title anyway?
And what can I do about the release of liability when I want to sell it, since the old title doesn't have it anymore?
I'm mostly interested in experiences of CA drivers.
It's not that I want to break the law by all means necessary, I would just simply like to save some money, wherever I can.
Do you guys have any input?
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