Overhaulin'

My husband I are selling our car to his sister. We'll be taking payments, and need to write a lien agreement

Are there any links to a standard car lien agreement? Thanks for the comments. I already know about filling out titles and putting our name as lienholder...I used to work for the dmv here. I am just looking for a link to a form. Thanks for the input. Also, my sis in law is good for the $$. She is very responsible, and knows that regardless of what happens to the vehicle (doesn't work, she wrecks it, someone steals it) she is still responsible for paying for it. I am already not very close with them, so it is all business for me. She doesn't expect any favors from me at all. This is why I need a loan agreement!

Public Comments

1. You can get it at local office supply or used car dealer may give you one.
2. www.1Stoplegal.com Make sure you put your husband and yourself as lienholder on theTitle as well.
3. Well, it's never a good idea to get into a business relationship with a relative. Just watch Judge Judy. So the best thing would be for her to borrow the money to pay for it from a lender, give it to you, you sign off as the seller and it's out of your hands should there be any problem down the line. If for whatever reason you still want to do this, sign the title as seller, have her sign as buyer, fill out the odometer disclosure as required, and put in your name as legal owner. That way his sister is the registered owner, and responsible for insurance and tags, etc. but you are still the legal owner until she has paid all the payments that come due. Once it's paid off, just give her a lien release and the vehicle will then be hers, free and clear. What you really need is not a lien agreement, but a loan agreement. Your bank should be able to help you with that. I would also put it something to the effect of insurance, including collision, being mandatory. That will protect you just in case we get into the "Why do I need to make payments when the car is wrecked?" situations, with you named on the insurance. Either way you do it, good luck with it. I hope it doesn't lead to a rift in the family.