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Boomer Sooner!
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Discussion Starter #1
Ok so i was buying a bike from someone last week. We show up to the bank (because he has a lien on the bike) and i wasnt going to give him the money unless he got a lien release. Well we went in and verified all the info with the banker, and she was going to leave me with a lien release right then. Well he forgot the title, and i told him i wasnt going to pay for it without the title, and he didnt want to load it back up in his truck, so i told him i would pay him half the money now, and hold onto the bike till he got the title and lien release to me. I was comfortable with this because i felt like i could at least get what i paid him so far if i had to part the bike out.

Anyways, it looks like he isnt going to come through with the title. So what are my options? Can i sell the bike as a track bike with no title? Should i part it out? Is it legal to do either since i dont technically own the bike yet? We did write up an agreement that i paid him half the money and the bike would remain in my possession until either my money is returned or he provided me with the title and lien release, and we had it notarized at the bank, so i at least have something if he were to like call the cops and say i stole it. I realize i shouldnt have put myself in this position, but now just trying to figure out my options. The tags on the bike are still good for a few months, so i should be able to ride it till then, but then after that not sure what to do.

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If he had a loan on the bike, then he should never have the title. The lien holder would have that, and you'd get the title directly from them once the lien is satisfied.

As far as your situation now, hopefully you both signed and notarized the bill of sale. If not, technically it's your word against his and he legally still owns the bike. I'd be very careful if I was you. If the tags on it are his, they aren't good at all no matter when they expire. You're in possession of his property and the tags reinforce this.

You should contact the local sheriff and talk to someone there about your legal options. Don't ride the bike and don't part it out until you get verification that it's ok to to something with it from them. You could be looking at jail time if the owner wants to be a dick and try to screw you over more by reporting it stolen.
 

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Boomer Sooner!
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Discussion Starter #4
If he had a loan on the bike, then he should never have the title. The lien holder would have that, and you'd get the title directly from them once the lien is satisfied.

As far as your situation now, hopefully you both signed and notarized the bill of sale. If not, technically it's your word against his and he legally still owns the bike. I'd be very careful if I was you. If the tags on it are his, they aren't good at all no matter when they expire. You're in possession of his property and the tags reinforce this.

You should contact the local sheriff and talk to someone there about your legal options. Don't ride the bike and don't part it out until you get verification that it's ok to to something with it from them. You could be looking at jail time if the owner wants to be a dick and try to screw you over more by reporting it stolen.
I wouldn't call it a bill of sale, but we did both sign a piece of paper that we wrote out that i am putting $2500 down and the bike will remain in my possession until either $2500 is returned to me, or he gets me the title/lien release, and then i would pay the additional $2500, and we had the banker notarize this.

I will call the sheriff tomorrow and talk about my options.

Thanks
 

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Boomer Sooner!
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Discussion Starter #5
Why can't he get you the title? Is he unwilling or just that he lost it?
I'm not sure. He blocked my cell number. My guess is he has no intention of paying off the lien, and realizes i will not give him the cash till the lien is payed off, so he took what he could from me and is done with it.
 

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Technically I believe the bank owns the bike no matter what agreement you two had. I have my title to my Kawi with me and the bank on it. Same with my Harley before I paid it off. Probably differs between states though. Take SkyDork's advice and seek legal help. You will likely have to Sue him and try to recoup your money. Having the notarized agreement is solid gold evidence but even if you win you may play hell trying to recover it from a deadbeat. I'd bet the PoPo's could motivate him to give you your money back or give you the title. If they're not too busy and you bring them a box of Krispy Kreme donuts. Good luck. Sorry to hear you're having trouble with one of the 85%.
 

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Take him to small claims court, most have a max of $5,000 so you will be good on the money and not have to hire a lawyer.
 

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Go back to the bank and explain the situation, they may offer a way through this to get the bike straight in your name. The bank is the legal owner of the vehicle and should be in possession of the title. Although I read somewhere that some states do give titles to buyers of financed vehicles. If this is correct, request the financial institution to order a copy. If the bank is already on board and have docs signed to release the lien and title to you, pay the bank and have the title released to you. However, the only snag will be when you go to the courthouse the title will require sellers signature to initiate a transfer. You didn't hear this from me, but if the buyer is MIA, a quick something on the seller signature line will smooth the transfer process.

When a person owes money for a vehicle, DO NOT EVER give any money to said person, all financial transactions will only ever involve you and the institution (legal entity) in possession of the title. Your issue now is that the bank will most likely not have the funds you gave to the seller and bank will still require balance paid in full to release. You will have to pursue this asshat for your money separate of the bike purchase deal. And getting a judgement in court only means that the person owes you the money, getting it paid back is another game all in itself.
 

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*******Find a lawyer in your area who practices consumer law. Talk to them and decide what your options are before you do ANYTHING else. You need legal advice from a lawyer, not a motorcycle forum. No offense guys.*******
 

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*******Find a lawyer in your area who practices consumer law. Talk to them and decide what your options are before you do ANYTHING else. You need legal advice from a lawyer, not a motorcycle forum. No offense guys.*******
:+1:

TALK TO A LAWYER. Most have a free consultation, but even if not it would only be a small fee. Dealing with law is what I do all the time, and knowing when to speak to someone who is more knowledgeable than yourself is the right way to go.
 

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*******Find a lawyer in your area who practices consumer law. Talk to them and decide what your options are before you do ANYTHING else. You need legal advice from a lawyer, not a motorcycle forum. No offense guys.*******
Burn! I can't believe you don't recommend getting legal advice from us. :2bitchslap:
 

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Boomer Sooner!
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Discussion Starter #16
There has been an update to the situation. Long story short, i now have the title, but it isnt notarized. I paid him for the rest of the bike and there was a police report filed, so i have proof that i paid him the rest since he refused to sign another bill of sale saying i paid for the rest of the bike. He basically said to F off and wont notarize the title. He has not paid off the lien, although it hasnt been that long.

So now i have the bike and title, but if he wants to (and what im assuming he does) he can make minimum payments on the bike until its paid off. He was driving a pretty nice truck that he also has a loan on, so i doubt he will just not pay off the vehicle and ruin his credit. So i think my only options are to just wait till he pays it off, although i do plan on contacting a lawyer and finding out what other legal options i have.

Thanks
 

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other than current possession, you still have no rights to the bike, the lienholder (bank) is first secured party. without a payoff of lien from the bank, you will have to either list the bank as the first secured party for yourself, or wait until he pays the note off, to list it as yours solely with no first secured party.

the current situation is better but, you are far from done. good luck. Ski
 
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