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Who gets the payment?
At the beginning of this month, my motorcycle was backed into in a parking lot and severely damaged. The guy takes full fault and I am currently working with his insurance. I am worried though because although I have the title, I have not transferred it through the state into my name due to finances.
I can show that I have been making payments, and the previous owners are friends of mine and will vouch for me, but I am worried that I am going to get screwed over by the insurance company because the title isn't in my name yet.
As that was my only vehicle, I have been forced to get a rental car, and I am really worried that I may have to pay for that as well.
Answer to Who gets the payment?
All you have to show is that you are the owner. This may be sufficient by simply showing possession of the title. The insurance company may want to still talk to your friend.
The issue really is not ownership, but that you make sure you keep expenses as low as possible. You have to keep your expenses at a reasonable level.
Title is a strong evidence of ownership, but it is not the only way you can show you own something.
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