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If he's attempting to defraud you by not paying off the note, your Police Dept maybe interested in talking to you...and may well put pressure on him. Otherwise you may have a long civil suit ahead of you. You did write a short contract about him securing the title for you right?
You never really asked him who was holding the title? Honestly, I can't imagine a conversation regarding a sale where who's holding title wouldn't be discussed.
Something's not adding up here...
Good points Stiggy. Last time I bought a truck there was a lien on it. I didn't cough up the cash until me and the seller went to his bank and paid off the loan together. I got a release letter directly from the bank. The new title arrived about a month later.
I recently sold a truck to a guy....he gave me a cashier's check which I immediately used to mail in my pay-off on the truck. They(lein holder) held it for 10 days before they would do anything. Then they had to process it and mail me the title, then I had to deliver it to the guy. It took about 3 weeks total for this process to happen. He called me about every 2-3 days asking the status because he was worried, but I kept assuring him that he would get the title, it would just take time for the lean holder to get it to me, which it did & everything was fine.
These things take time due to the 10 day hold on the check, processing, and mailing.
However, I see your original post was on April 5th & today is May 11th. I would be concerned at this point..
Turns out I may be ok.... Received the 'affidavit in lieu of title' in the mail yesterday took it to the courthouse and was given my registration, titles on the way. Funny side note, upon arrival at licensing, I pulled the number 88.... I knew then that it'd be fine.
THE BIKE IS MINE!
Thanks to everyone who responded positively.
BTW, changed my handle. Decided using my real name might not be super appropriate.
Jeff
That's awesome news. Good for.you. when I sold my soft tail that I still owed on I went to the local dealership. They did all the paperwork and payoffs for free for me.
That's awesome news. Good for.you. when I sold my soft tail that I still owed on I went to the local dealership. They did all the paperwork and payoffs for free for me.
That doesn't always mean things will work out. We had a car dealer in our area go out of business and had sold several of the cars people traded in and did not pay off the lien holder. Mine was one of them. Fortunately for me I got it handled before he went under and got mine paid for. Several others were not so lucky ending up with a loan on a car they no longer own.
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