I am selling a car via private sale where the bank holds title and I need the funds from the buyer to pay off the loan. Are there any special steps that have to be completed while I am waiting for the title from the bank? For example we will complete the bill of sale and I will pay off the loan with their funds and await the title. I don't want any liability going either way so we are both covered legally.
I see something on the internet about a Temporary Operating Permit but I cannot find anything on the Illinois site about it.
Thanks in advance,
John
I see something on the internet about a Temporary Operating Permit but I cannot find anything on the Illinois site about it.
Thanks in advance,
John