Buying a truck from a private seller with a lien held by an individual?

[jodders]

I want to purchase a truck from a private seller. The truck has a lien on it, the lien holder is a private individual, not a financial institute. The seller says he owns $34,500 on the truck (asking price $64,000). Further complication, I don't want to drive the truck in the US as I am exporting it - it will be collected from the sellers home address by the shippers.

My question is if I pay the lien holder his outstanding amount ($34,500), and the buyer the difference ($29,500) what documents can they give me that releases the truck there and then into my possession and enables it to be collected?

Tricky one I know.
Typo - I meant pay the seller the difference - I am the buyer!
Guys, I have seen a certificate of title with the seller's name as registered owner but with details of lien holder shown too.

From what you say, are there 2 certificate of titles for this truck - one held by seller (as seen) and one held by lien holder?

And do both types have a section that can be completed that transfers ownership there and then, or are other forms or procedures (e.g. at the DMV) needed to complete the transfer of the truck into my possession?

Thanks again.

 

[LoveTheBeast]

Meet with both of them. Give the seller his money and the lien holder his money. Shake hand's and get the title from the lien holder then it's your's. Making it your's is step one. Once it's your's, you can then figure out how to export it which would be step 2.
Remember, the lien holder is the owner. Not the seller.

 

[Scotticusmaximus]

Remember if you don't have the title, then you don't own the truck.The lien holder has the title. So, be sure to inform said party of what you are doing and when you are going to take possession. Be sure to get the title when you do take possession.