Late August I have decided not to renew my insurance because my maturity date on my loan was coming up on 9/20. I was preparing to sell my vehicle because during the five year period I was granted several extensions which differed a total amount of $6500. Total payoff as of 9/17/2012 was $7200 included late fees. I sold the car as of 9/17/2012 agreed upon $10500 with third party. The check was written out to my financial company in which I was instructed that once they received the check they would minus my payoff and send the title to me with the remainder . the buyer and I agreed upon that once I received title back from the financial that then I would release the vehicle with title to buyer. The condition is written under the bill of sale and release of liab dated 9/17/2012 continue>>>
If the vehicle is uninsured at the time of the collision regardless of it being owner by you or a third party, then you likely will be a 213. There are a couple of exceptions to the rule. See Califirnia Civil Code Section 3333.4. You should speak to an attomey to discuss in further detail whether your case falls under prop 213 or not before making any decisions in your case.
An owner or driver is reqd to have liability insurance. If you had no insurance personally, did the car? Did the buyer have insurance in force before you gave him the car? If so, you are ok. You will need to get proof from him that the car was covered. Hopefully he will be cooperative. If he hadnt added the car to his policy yet, he has a small number of days to notify his company that he has a newly acquired car. He may have ins as he was buying this as a second car, or maybe he was buying this one and then was going to sell his current car. It may only be 10-15 days from date of purchase to formally add it to coverage. Need to check his policy. If he didnt have any insurance yet, you are out of luck. Lesson is never cancel insurance until you have notified the dmv of transfer of the vehicle.
I agree with Attorney Lassen. You should not attempt to settle this on your own. I would be glad to discuss this case with you. I do offer free consultations.
Check out my website below and give me a call for a free consultation if you are a California resident 877-427-2752 or you can email me at Michael@Kingofpersonalinjurylaw.com
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