How can I avoid liability once I sell my car?
This is a discussion on How can I avoid liability once I sell my car? within the Other Business & Finance Law Issues forum, part of the BUSINESS & FINANCE LAW category; I live in Michigan. I'm trying to sell my old car... How can I avoid liability once the car is ...
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I live in Michigan. I'm trying to sell my old car... How can I avoid liability once the car is sold?
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#2 |
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Join Date: Nov 2006
Posts: 324
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Make sure that you secure the payment. If you had accepted a check or money order make sure it clears. On the other hand had you used an escrow service, you should wait until you get a confirmation of money receipt.
As long as you described the car to the best of your knowledge, and did not deliberately hide information, mechanical problems or prior accidents you shouldn’t be liable for those you were not aware of. Most state laws around the nation assume that private-party sales have a built in “as-is”, however, it will only make you feel safer to get that understanding in writing, make sure that both parties sign off before the transaction is complete. However, it is to your best interest to protect yourself in writing and include an as is statement in the bill of the sale, or have the buyer sign a paper stating that he or she is aware that you the seller are not responsible for any future breakdowns.
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