My friend would like to buy my car by making monthly payments until the balance is paid in full: lease to own. I plan to keep the title in my name and maintain full coverage on the car as well as insure the buyer. If the buyer have an at fault accident, will I be held accountable?
As the owner of the vehicle, you are responsible for all liability associated with the vehicle. If the vehicle is paid off, I recommend that you title the vehicle in the buyer's name and record a lien on the title in your name.
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