Safe ways to exchange money and ownership?

I've used that when someone tried to welch on a deal. When to his bank about 8 months after the stop payment, and got cash for the check. You should have heard the screams, but that was the end of it. Never heard from him again.

Art

 

Attorney can cash the check and put the funds in his trust account. He then crosses the title and money between the parties. If the check never clears his trust account, then the check was bad in the first place. If he misappropriates the funds, you get his law license pulled and you contact his malpractice carrier.

 

Thanks. Sounds like a fool-proof plan to use if one can get to a branch of the buyer's bank.

 

Hey this is all waay too complicated. Just ask the buyer for a cashiers check from a well-known bank in your area (Wells Fargo, Bank of America, Chase, etc.). Then do your "closing" at that bank, in the lobby. First, you go up to a teller and ask for the branch manager. Next, you tell him/her that are you are selling a Ferrari for $XYZ dollars and that you have a cashier's check from their bank. Then tell him/her that you want them to verify that the check is good or that the funds are good prior to signing over the title (which is in your pocket). They get on their computers (they input the check number), and they look at the purported check, and they tell you yea or nay. If you then try to cash that check, and it turns out to be a forgery, then the BANK will definitely have something to tell you in court.

I have even made is more difficult than it should be.

Andrew