What should I do if I sold my motorcycle with a clear title but I still owed the bank?

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What should I do if I sold my motorcycle with a clear title but I still owed the bank?

I thought I was receiving a personal loan until the bank called and is requesting the title to place a lien on it. I’m not sure by selling the motorcycle if it was Illegal or not and I’m scared that I’m going to be charged with a crime.

Asked on May 13, 2014 under Criminal Law, New York

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Based upon what you have written, the person who purchased the motorcycle most likely paid too much for it regardless if there was not a lien on its title. I suggest that in order to resolve the matter that you pay off what is owed the lender on the motorcycle in order to not get the purchaser involved in a future legal dispute.


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