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 12/2/2012 9:40 AM
 

Hi folks,

I'm new to the forum and have a question I hope someone can answer.

I live in Florida, but I'm not a native Floridian and I am somewhat unfamiliar with the laws regarding titles. I have a travel trailer for sale and I owe a small amount of money on it. How can I sell the trailer and acquire the title or transfer the title? It is my understanding that the title is held by the State of Florida until the loan is paid in full. I'd like to sell the trailer, but I am concerned about how to handle the sale.

BTW, I have an interested buyer.

Thanks for your help. All the best.

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 12/2/2012 10:59 AM
 

Trailers are just like motorhomes and cars. When you owe money on the item, the lein has to be satisfied on the title before it will be released for sale. You will have to coordinate the sale with sending or taking the signed receipt of paid in full from the lien holder to the DMV. In other words you have to pay off the trailer with a signed receipt from the lein holder. They will issue a new title with the words lein satisfied. Then you can sell it to the new owner with a clear title.

The DMV is always a PITA on these formalities, but it is designed to keep someone from selling an item where there is still money owed. You really don't have a clear title until what you owe is satisfied.

Hope this helps.


Big Bad John & Runaround Sue & Paris *Hammock,Florida* *97 Dutch Star Diesel* *76 VW Bay Window Bus* *91 Classic Harley Davidson* *1949 Ford Lead Sled* *2012 HD LSV
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 12/2/2012 12:03 PM
 
 Modified By RVA  on 12/2/2012 10:45:23 PM

John - To protect both seller and buyer, and to solve the problem of the seller having to come up with money to pay off the loan before receiving the sale proceeds, would letting an escrow company handle the transfer be a good solution? - Dave

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 12/3/2012 9:03 AM
 

The DMV is not consumer friendly. They have strict rules. Until the lein is paid in full they will not release the title. They won't get involved in things such as escrow funds.

That would help everyone to make the sale, but they will not take the time for deals like that.


Big Bad John & Runaround Sue & Paris *Hammock,Florida* *97 Dutch Star Diesel* *76 VW Bay Window Bus* *91 Classic Harley Davidson* *1949 Ford Lead Sled* *2012 HD LSV
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