firebird,,,,,,, I don't really want to pick sides here, but here's what happened to a friend of mine.
Similar deal to yours.
My friend sold a guy his car. My Friend kept the title, as the guy owed him $500 more dollars, but he let the guy take the car into his possesion and drive it. The guy never put insurance on it. One day he lost controll, and smashed in to a mini van, killing himself and another person.
The title was still in my friends name, and he has been in and out of court for 8 months now, trying to clear himself of any liability. NO DICE, he has spent over $16,000 so far, and who knows how long it will take, OR if he will have a judgement put against him, JUST BECAUSE THAT DAMN TITLE WAS STILL IN HIS NAME.
You are living on barrowed time, haveing that title in your name, and NO controll of what that car could eventually be involved in, in the future.
Just a word of advice, "take it or leave it",
GET THE DAMN TITLE OUT OF YOUR NAME,
or assume partial liability of that car for all future use,
as you have nothing to gain and EVERYTHING to LOOSE !!!!!!!!!!
if it was me, I wouldn't waste any time doing it either.
good luck 8)