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Be very careful especially with these paperless titles, they can be a real PITA, check with both the bank and the state where the car is titled to make sure you follow procedures exactly. I purchased my car in CA and the bank released the paperless title to the original owner and not me. Fortunately they were stand up people and signed and sent the title to me right when they received it. It could have been a real mess. I would see if the bank that is holding the title will escrow all funds until you have title in your hands.
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Jim
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