Title Transfer Dispute After a Private Sale of a Vehicle
I hope I can get this question in the right place, for practical purposes this matter involves the State of Maine laws.
I am in process of buying a vehicle from a co-workers husband. The agreement was at first...because our second vehicle is technically a parts car and can not be legally inspected I provided a down payment (20%) of the cost I will owe. I would register the car, and return the plates currently attached to it.
I purchased the insurance for the vehicle (they still have not canceled theres). At first they could not find the title to the car, because of that I could not register it. I am now told by way of information that the "husband" is getting anxious that I pretty much pay this off ASAP rather then some reasonable verbal payment arangement agreement we had in the beginning. Also because of this he won't give me the title until it is paid for because "banks do this"...to which they do, but you can still register the vehicle by means of a leinholder. A firend also decided to tell him that because it is his plates, if I get in an accident with that car even though my insurance (and as of a few hours ago his as well even though I told him it was insured) it would all go back on him.
I am to the point where this is rather pointless and I want to give the keys back and ask for my money back, I was told I could pay this when I could as often as I could (which I am not complaining it is very nice) but at the last minute to decide to hold the title against me, I can't register it.
What would be the wise thing to do if I wanted to keep the car, still run it and he can hold the title when he gets a copy from the state. Mind you the rules in the middle of this change, because if he could find the title last week and did not need to ask the state for a copy I would have had it registered. Now because of this, he decided to change the agreement.
Re: In Process of a Private Sale for a Vehicle
What banks do is register liens against cars. If the deal was that you would pay 20% and get title, he should convey title but subject to his lien for the balance owed