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Save Succession Agreement in DOC

Save Succession Agreement in DOC

Aug 6th, 2022

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How to Save Succession Agreement in DOC

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In a car loan situation, the bank holds the title to the vehicle as collateral until the loan is fully paid off, but the borrower (you) is the actual owner of the car. While the bank retains the title, you have rights as the owner, including insuring the car, selling it, or refinancing it. The insurance company covers you, the driver, not the bank. Once the loan is paid off, the bank sends you the title, confirming you are the full owner without any lender involvement. This arrangement defines your ownership in terms of a loan agreement.

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