I have a friend who is going to be soon going through a divorce and wants to transfer the title on his harley into my name. The bike is paid in full and he has the title, he said he will not drive the bike while it is in my name etc...would I be liable for anything while the bike is in my name. Only the bike would be in my name, not the insurance, tags etc.
2007-01-17 04:10:28 · 4 answers · asked by flip 1 in Cars & Transportation ➔ Motorcycles
Sounds like he is hiding an asset and not giving you the bike. This is illegal and you could be in trouble as an accomplice. I would not get involved. Especially if he is continuing to pay insurance, tags - this is as much as evidence that he is not giving you the bike therefore hiding assets. BIG TROUBLE and directly against the boilerplate in any separation decree I have ever seen.
2007-01-17 04:20:19 · answer #1 · answered by justbeingher 7 · 0⤊ 0⤋
You will be liable for assisting with fraud. Your friend sounds like a piece of work.
I wouldn't do it. You will owe state sales taxes on it based on the blue-book value and then he will have to pay them again when you transfer it back. But I'm sure he thinks he can fool a judge without going through all the legal title transfer. Divorce judges have seen it all and your friend is about to get reamed if he tries to pull bullshit like this in court.
2007-01-18 01:14:56 · answer #2 · answered by J. B 3 · 0⤊ 0⤋
listen to the people before me - they're right. You shouldn't get invovled in this kind of scam, because it's illegal...and your friend is making you an accomplice.
besides that, you can't get a bike in your name without the registration and proof of insurance.
2007-01-18 08:41:57 · answer #3 · answered by Kate 2 · 0⤊ 0⤋
Aside from the hiding assets thing already mentioned, there is no way the title can be in your name and the registration in his.
2007-01-17 06:05:12 · answer #4 · answered by Firecracker . 7 · 1⤊ 0⤋