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Save Contract For Deed in PPR

Save Contract For Deed in PPR

Aug 6th, 2022

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How to Save Contract For Deed in PPR

4.8 out of 5

35 votes

The text explains the concept of ownership in the context of a car loan. When someone buys a car with a loan, they technically own the vehicle, but the bank holds the title until the loan is paid off. This means the buyer can use, sell, or refinance the car while the bank maintains the title as security for the loan. The insurance covers the driver, not the bank, reinforcing that the driver is the owner of the vehicle. Once the loan is fully paid, the bank sends the title, transferring full ownership to the buyer, and the agreement changes from a conditional sale to complete ownership.

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