When someone is selling there car to a family member do you think it is smart to make up a contract for both parties to sign as a as is sale. Or are there some here who think since its family you dont need a contract of a sale of a old car
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When someone is selling there car to a family member do you think it is smart to make up a contract for both parties to sign as a as is sale. Or are there some here who think since its family you dont need a contract of a sale of a old car
That would depend on the family member. There are a few members of my family that I would do a contract for. Just because they are family doesn't mean they are trust worthy.
always get a CYA letter. Someone once said "money and blood don't mix'
CYA = Cover Your Ass
well, its not so much of a "contract" as it is a notice of disclosure. and, it's probobly the most fair way of doing a transaction, family or not.
what you want to do is, on a piece of paper, list all known defects/issue's. then write "this vehicle is being sold as-is with all known defects disclosed, for the sum of x-amount of dollars". this also acts as a bill of sale for the dmv/sec of state (whatever you got for title work) and also will serve as a reciept...at the bottom where both sign, write above your name "paid in full" and a check number or write cash amount of x-amount of dollars. i'd write it twice and sign twice. one for him and one for you
thats pretty fair bro and no-one can come back and say you didnt tell me about such-n-such, or whatever.
contract with out a doubt
you'll be the next family on Peoples Court if you don't
Family are always the worst to do buisness dealing with- get a contract!
If I thought I needed a contract for family I'd sell the car to someone else. If it was for a realitively small amount I'd just give them the car. J.R.
You can go online and find some simple contracts. Look at it this way, it's to protect the both of you. You aren't being selfish, you're being smart.
Contract or avoid selling to the family member, it can cause issues down the road if something goes wrong with the car and personally I would just avoid that if at all possible unless the person really needed the car, but still use a contract
legally, its a contract whether its on paper or not.. a verbal contract stands up in court as well
....i dont know if this helps or not bro, but calling it a "contract" sounds negative. sounds like there is trust issues...i'm telling you, you just want a "notice of disclosure"....
YOU KNOW SOMETHING ABOUT BUTT MUNCHIN! :woot: