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[–]SkeptiCynical 1 point2 points3 points (0 children) | Copy Link
[–]hashtagshouldershrug[S] 1 point2 points3 points (0 children) | Copy Link
[+]btgarner1 points [recovered] (1 child) | Copy Link
Have her buy the car from you (plural).
So let's say together you owe $5K on the car, and if there is some equity in the car that you are going to recoup (say, $2K, but it can even be a single $1). She secures a loan for the debt and equity owed to you, then you sell the car to her, use the $5K to pay off the original loan, you get the agreed upon equity ($2K), and sign all the documents, you should be good. Car is in her name, along with a loan for $7K, again only in her name. Your local DMV should be able to help you through th situation, so call them (or look at their website), since every state is a little bit different. Note that there may be fees associated with this, so you may want to establish who covers what fees, and that all values are agreed upon (in writing, notarized), with deadline dates to finish everything. This way if there is an issue between now and when that happens, you have a document that shows that she has full liability for the car even though the paperwork had not been finished with the DMV.
[–]hashtagshouldershrug[S] 0 points1 point2 points (0 children) | Copy Link