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 Post subject: Selling bike while waiting on title?
 Post Posted: Mon May 07, 2007 12:12 pm 
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Two Wheeled Terror
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Joined: Tue Mar 13, 2007 11:51 am
Posts: 192
Location: Richmond, KY
I have a few potential buyers for my bike.

However, I am still waiting on my title to be mailed to my house. I registered it last month and the circuit clerk said it's about a 4-6 week waiting time.

it should be in my hands real soon.

my question is..if i sell the bike this week. Can a bill of sale be a legal document until the title arrives?

or for legalities, should I really wait till the title comes in then make the sale?

thanks for any help or input!


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 Post subject:
 Post Posted: Mon May 07, 2007 12:30 pm 
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Two Wheeled Terror
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Location: Tates Creek - Lexington
The buyer has to be aware of the circumstance. Legally you can sell the bike without the title, but its going to be tough to convince the buyer as to why they can trust you.

For their peace of mind knowing your phone number, where you live, and having an air tight contract would be appropriate.

You want to sell it now while the prices are high, but at the same time dont want someone to give you less because of your special circumstances.

Just curious, have you asked the county clerk about your situation?


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 Post subject:
 Post Posted: Mon May 07, 2007 12:47 pm 
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Posts Instead of Riding
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everything will be cool if its cool with the buyer, just make sure you sign the bill of sale and put your phone number, the only major problem I can see with it, is if something happens to the title while sending it to you, if theres some kinda hold up in getting it, the other person might get pretty mad for something that you cant control

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 Post subject:
 Post Posted: Mon May 07, 2007 12:53 pm 
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Two Wheeled Terror
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Location: Tates Creek - Lexington
Just curious, is the 4-6 week wait typical now when you register an out of state title? I've mostly bought instate recently and it takes a week, - I just dont remember anything taking that long, My motorcycle from ohio, or my car from New York.


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 Post subject: Re: Selling bike while waiting on title?
 Post Posted: Mon May 07, 2007 11:44 pm 
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Two Wheeled Terror
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Joined: Mon Apr 23, 2007 8:17 pm
Posts: 128
Location: Lexington, Ky
dhwang80 wrote:
I have a few potential buyers for my bike.

However, I am still waiting on my title to be mailed to my house. I registered it last month and the circuit clerk said it's about a 4-6 week waiting time.

it should be in my hands real soon.

my question is..if i sell the bike this week. Can a bill of sale be a legal document until the title arrives?

or for legalities, should I really wait till the title comes in then make the sale?

thanks for any help or input!


By allowing a third party to ride off on your bike with the bike still in your name you are legally liable for any damage or god forbid if someone is injured or killed. I would NOT sell your bike until you have the title in hand and can immediately go down to the county clerk's office and get it out of your name as soon as the sale takes place.


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 Post subject:
 Post Posted: Tue May 08, 2007 8:15 am 
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Wildcatrider
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^ True. They can get their own insurance and make a good bill of sale, and most circumstances would be cool. But if they hit and injure/kill someone, then technically you are liable and can be sued.

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 Post subject:
 Post Posted: Tue May 08, 2007 11:58 am 
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Two Wheeled Terror
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Joined: Tue Mar 13, 2007 11:51 am
Posts: 192
Location: Richmond, KY
I appreciate all the info.

i was thinking a detailed bill of sale would steer me in the clear...but evidently not in that instance.


Thanks!


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 Post subject:
 Post Posted: Tue May 08, 2007 1:27 pm 
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Two Wheeled Terror

Joined: Tue Aug 01, 2006 7:24 am
Posts: 295
i just wrote a contract type thing up... just sayin ill get him the title soon as i get it, put the price, and my phone number.. i even put the type of bike and the vin and that i wasnt responseable for accidents and it was sold as is... then it was dated, me and him both signed it and my aunt signed it to cuz she was a NR... made 3 copys


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 Post subject:
 Post Posted: Tue May 08, 2007 1:41 pm 
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Knee Dragger
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Joined: Tue Jun 20, 2006 11:21 pm
Posts: 626
Location: Louisville
Ownership is transfered when a Bill of Sale is signed, therefore, you're not liable for anything.

Here's a link for a Bill of Sale form: http://www.ilrg.com/forms/billofsaleauto-warranty/us/ky


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