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Discussion Starter · #1 ·
Looks like buyer from NJ coming to buy my Road Runner on Monday. They are paying cash and wanting to have title signed off to them . They plan on swapping on their tag and driving home. Anyone give me some legal advice on this ????
 

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once you sign the title its his , if he throws his tag on it the legal repercussion falls on him
but he could claim "what title?" and then it would fall on you to prove you sold it and signed the title so go to a notary and have the sale notorized

he will need a signed title and a notorized bill of sale stating the price to register it in jersey (where he will have to pay the tax on it)

if he goes with you to a PA dmv he can get an out of state temporary transport tag (provided he has proof of insurance on a vehicle in NJ) and the fee tag is really cheap
you can have the sale notorized so you are free of recourse if he should have an accident , and he can legally drive the car and be insured (in NJ all vehicles owned are insured under your current policy , little more to it but if you buy a car its covered under your current insurance level even if you didnt let them know you bought it yet )

putting a tag on that was not for that vehicle is a no no and will get the vehicle impounded and fines if its gets stopped (just ask don raist103about that)

if he had some forethought upon receipt of payment the title could have been sent to him and he could have processed it in NJ and acquired a legal tag for it to drive home on
 

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car crazy from birth
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(where is my "Doc Paulie is the Man" smilie??)

Is there a Notary/"tag" place nearby? That could be 1-stop shopping.
Maybe you could ask for proof of insurance?
When I bought the Tiger there in Nine Points (1985:eek!:); I got a 30-day transit tag and drove it home, everything on the up-and-up..

Good luck.
Sorry to hear about your troubles.

Mark
 

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asking him if he has insurance wouldnt get your ins or you off the hook , until the title is processed if it should disappear it could fall on you as the owner just as if he borrowed it

i know that some think you should have trust in people but when things can go wrong you have to cover yourself . at minimum before the title leaves your possession have the title signed and dated by both parties with price/mileage stated and get a copy for yourself,
btw leaving a title open is not legal --and yes i know its done often-- but thats doesnt make it right ,
 

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Discussion Starter · #5 ·
Question for Paul

Paul , whats the tax % rate in NJ for this sale ? Whats it going to cost him when he gets back to NJ ? Also, wouldn't he pay any PA sales tax ?
I'm going to call local notary service today to check on these also but as always I thank you for your help.
Gonna be tough mentally selling this as I've owned it since graduating high school in 1982. Times are changing and interest fading with other priorities . Still have the GN though ....
Dave
 

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I believe it's 7% in NJ...he won't have to pay any tax in PA, you only pay tax in the State where it's registered. He will just pay any notary/fast tags fees. I agree w/ Paulie 100% after buying & selling alot of cars...go to a Fast Tags near you and have it properly removed from your name to ensure it's out of your name and notarized. I had (2) instances years ago where the bozo's didn't do this and one of the occassions the guy had gotten in trouble...car got impounded...and the city of philadelphia was trying to charge me for the fees!
 

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If he doesn't want to get a temp tag...at the very least write up a buyers agreement that you sold him such car on such date for such amount...include VIN & mileage...and have it notarized!
 

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I've sold a few cars recently too. Never had someone want to swap a bad plate on. Most ppl would try to arrange it ahead of time to get a proper plate (maybe he has dealer tags?). At a minimum make two bills of sale, one for him and one for you. Take a picture of the signed title and him driving it away if you want to be extra safe. Between the $ and those documents that should be enough. You'd still have legal issues if he crashed even if he towed it without getting a plate and entered officially into the DMV system but you'd be able to prove you sold it in the end. If you still feel uneasy you could arrange to drive it to him and get a ride back if you think he's using a bad plate.
 

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if you have a set date and time you can have a notary at your house to "witness" the sale.. we do it all the time costs $15.00
 

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Honestly all he has to do is sign the Title. If he wants to drive it home that day well thats where you need to have some protection on your side. Definitley do a sellers agreement both sign a copy and keep it. Notorizing isnt going to make a damn differance. Only thing a Notary is good for is proof of signature on an offical document or if your making copies of Proof of ID. The biggest thing I would tell him to do is get proof of insurance for the vehicle if he wants to drive it otherwise tell him to get a trailer. THe only tax issues he will have are for NJ. You will have Capital gains tax for the sale of the car but since it's a cash transaction it will not need to be reported. FYI everytime you deposit 10K or more into your Bank account Uncle sam is notified by your finacial instituion. Will not lead to any tax consequences unless you are being examined.
 

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If you pull out your PA title and read the back, I beleive it states that the SELLER AND THE BUYER will have to sign before a notary. This will require you to completely fill out the title transfer. Doing this at the typical PA tag and title agency will get it properly notarized, dmv fees collected and then they will send it off to Harrisburg to change the title into your Buyers name. Your buyer can get a nominal cost transit tag for their trip home. Once your buyer receives their new PA title they take to a NJ mvc and have it changed over to a NJ title.
Definately better to have a signed and dated receipt of sale for your protection.
Good luck.
 

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I would be mnore concerned about the cash being legit currency.....

Who cares about the new buyer's tag issues. Not your problem - just have a copy of a bill of sale - In Delaware you send in the bottom of a title to DMV proving you sold it - then nothing comes back on you.

GLWS

Kelli
 

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Keep in mind if he already has collector car insurance through Grundy or similar many of those policy's will cover a newly purchased car for 30 days I believe from time of purchase and they do not require you to call to add the vehicle at the time of purchase.
 

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Keep in mind if he already has collector car insurance through Grundy or similar many of those policy's will cover a newly purchased car for 30 days I believe from time of purchase and they do not require you to call to add the vehicle at the time of purchase.
This is true even for non-collector insurance - it would be listed on a policy as "automatic pickup".
 

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How did it go Monday Dave????
 

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Discussion Starter · #16 ·
How did it go Monday Dave????
Gary , buyer a few $ short because of money owed him by customers. Coming later this week or early next week . Called tag service and it costs $50 for a temp tag and transfer good for 30 days that will get them out of the state of PA legally . I told them I'll pay for this for my piece of mind. Going to work a deal together on all the extra parts I have . I have given them the choice of taking the car and all parts or leaving some parts with me and I'll take some off the price of the car. This will give them a little help for the 7% tax they face in NJ later. Figured there should be no capital gains tax on this as I've invested far more $ than what it's selling for.
 

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Discussion Starter · #17 ·
She's gone to NJ

Well , even though we have rain today buyer from NJ came and picked up car. Tough day for me and my 2 kids who all have shed some tears. 30 years of my life into that car and it will be missed ... :( :(:(
 

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Bittersweet. Glad/sad for ya. You deserve a Hoss's night.
 
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