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Who legally owns a car between time of payoff to lien holder and lein holder s title processing?
We bought a car from an individual who has a lien. Our bank paid his lien holder and his account is paid off but the lien holder hasn't processed the title paperwork yet and his account is not "closed".
Do we technically own the car now or do we have to wait for his account to close?
Thanks
I'm in Georgia, if that matters
2 Answers
- Anonymous7 years ago
No. You don't own the car until you get a title for it in your name. The lien holder should send you the title and/or a lien release as soon as they can process the transaction.
- ?Lv 77 years ago
if he told you to pay the money into that account and that is what you have done, the car is yours, its his problem if the bank gives him problems
