My question involves a consumer law issue in the State of: NJ
We made a verbal agreement with a licensed car dealer & auto shop on 7/28/2020, trading our old car plus a check for a nice used car. We cannot find the title to our car but dealer said it's no problem & wanted to complete the transaction tonight. I held off hoping we would search once more to no avail. I can mail forms to DMV that takes about 2 - 3 months to receive a replacement. My concerns are (1) when my plates come in can he holds them until we have a new title to give, or (2) if he fixes our old car & looses a sale because he doesn't have our title, can the dealer have legal grounds against us because he couldn't make the sale or can't put it up for sale? The trade in was $1,000.00 & i suggested to pay that & wait until we have title to trade our car. Help/thoughts are appreciated as i know he will want to try & finish the deal this evening.