The shyte is hitting the fan.
Cruiser
Joined: May 2011
Posts: 142
Likes: 0
From: Central Pa
I hope you at least get a kiss and a jar of Vaseline out of the deal...sounds like you are going to need it. 
Not sure of the exact laws, but in some states you can only sell things of value (cars, bikes and anything that needs to be titled or registered) to a family member for a $1. Selling to a friend for $10 might be considered another form of tax evasion...and just may compound your problems.
Hope things work out for you, I have seen people rebound from this type of thing and end up being better off than before.
Not sure of the exact laws, but in some states you can only sell things of value (cars, bikes and anything that needs to be titled or registered) to a family member for a $1. Selling to a friend for $10 might be considered another form of tax evasion...and just may compound your problems.
Hope things work out for you, I have seen people rebound from this type of thing and end up being better off than before.
Tourer
Joined: Nov 2011
Posts: 324
Likes: 1
From: USA
Pennies on the dollar? Instead of paying my taxes, maybe I should have bought a new bike and done some home improvements instead. If I did that though, my wife would probably divorce me for getting us in trouble with the IRS.
Stellar HDF Member
Joined: Feb 2010
Posts: 3,396
Likes: 266
From: Southern California
Bad news, really bad news. But I'd recommend that you do NOT sell the bike to a friend, brother, cousin, uncle, or whatever . . . for anyhting less than what it is worth. Because you may have to prove to a Judge that the price you got was "Fair Market Value" and even with KBB that can be a challenge if the divorce isn't going real friendly like (and how many fall into this category?). Do you really think her attorney or the Judge is going to believe some nonsense about selling a $15,000+ bike for $10? Get real! They turn right around and say "Sucks to be you, but Kelly Blue Book, or a local dealer sales person that you don't know and never met testifies that the bike was worth X and guess you're going to have to make up the difference for using such bad judgement." This is the best scenario because they can go after whoever you supposedly sold it to for fraud and that'd be a felony (Thanks buddy!). When I got divorced; I didn't even have to ask; my lawyer came right out and told me to not even think about doing anything stupid like this (his words). There's a lot of street trash talk about someone who knew someone who had a friend who . . . but you'll never actually meet someone who did it and got away with it. Particularly with the IRS in the Mix? Geez, you really DO NOT want to mess with those folks. They'll make your Ex look like Mother Theresa by comparison. Absolutely no sense of humor what-so-ever! In some states if you can claim that the bike is your primary source of transportation that you need to get to and from your job, sometimes that can get it excluded from the division of common property and keep the IRS from seizing it, but even that'd be a long shot.
Seasoned HDF Member
Joined: Mar 2010
Posts: 19,982
Likes: 6,111
From: Florida
When you say "I do" what that really means is "I do see a future bent over without Vaseline".
Unless you want kids,or your fiance' has a great health coverage plan they can put you on, their is absolutely ZERO advantage for men to getting married nowadays, unless you have the sudden urge to put half your stuff in jeopardy. Not like the old days when you did it for a piece of ***. Not the first time I've preached this on here, & prolly won't be the last.
Some bitch try to take my bike--I'd matchstick the gastank first.
Unless you want kids,or your fiance' has a great health coverage plan they can put you on, their is absolutely ZERO advantage for men to getting married nowadays, unless you have the sudden urge to put half your stuff in jeopardy. Not like the old days when you did it for a piece of ***. Not the first time I've preached this on here, & prolly won't be the last.
Some bitch try to take my bike--I'd matchstick the gastank first.
Outstanding HDF Member
Joined: Oct 2011
Posts: 3,492
Likes: 19
From: Illinois
The one guy is wrong and I am someone who knows what a guy did. A guy I worked with new he was looking at alimoney and he knew the judge was going to order him to pay out his rear based on his income. Well, he quit his job and had NO INCOME the next time he went to court and yes, it did **** the judge off but there was nothing he could do to him. The judge ordered him to pay the minimum based on he no longer had an income. On the side this guy also restored old vette's and he had 2 of them that were done and ready to be sold. he sold both vette's for 100.00 a piece and again there was nothing the judge could do! The IRS? I don't know about those folks and I hope I never have too. Everything that happenes to you from this point forward is going to be based on what you have and your income. I know, I went through it too and I also went through a custody battle a year later and won and got my kids. It cost me 60k but I didn't care, I wnated my kids. My divorce cost me a 1/4 of a mil because I stood by and did nothing because I didn't know what I could or couldn't do. I too will NEVER, EVER get married again. I should be retiring in 3 months with a home paid off and so on. Now I have 6 more years to go, just got a home and a bike and my divorce was 10 years ago. I had my kids though so that is why it took me so long. I will tell you guys something, paying child support is cheaper then what it would actually cost you if you had them, trust me, I know this to be true! I didn't care though, I love my kids more then anything but I am just sayin..........
Bad news, really bad news. But I'd recommend that you do NOT sell the bike to a friend, brother, cousin, uncle, or whatever . . . for anyhting less than what it is worth. Because you may have to prove to a Judge that the price you got was "Fair Market Value" and even with KBB that can be a challenge if the divorce isn't going real friendly like (and how many fall into this category?). Do you really think her attorney or the Judge is going to believe some nonsense about selling a $15,000+ bike for $10? Get real! They turn right around and say "Sucks to be you, but Kelly Blue Book, or a local dealer sales person that you don't know and never met testifies that the bike was worth X and guess you're going to have to make up the difference for using such bad judgement." This is the best scenario because they can go after whoever you supposedly sold it to for fraud and that'd be a felony (Thanks buddy!). When I got divorced; I didn't even have to ask; my lawyer came right out and told me to not even think about doing anything stupid like this (his words). There's a lot of street trash talk about someone who knew someone who had a friend who . . . but you'll never actually meet someone who did it and got away with it. Particularly with the IRS in the Mix? Geez, you really DO NOT want to mess with those folks. They'll make your Ex look like Mother Theresa by comparison. Absolutely no sense of humor what-so-ever! In some states if you can claim that the bike is your primary source of transportation that you need to get to and from your job, sometimes that can get it excluded from the division of common property and keep the IRS from seizing it, but even that'd be a long shot.
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Road Master
Joined: Mar 2008
Posts: 1,130
Likes: 0
From: FLORIDA
Wow bro, been there and done that minus the IRS involvement. I can feel some of your pain.
I saw a 2010 Fat Boy Lo here in the Panhandle at Heritage HD in FWB for 15k just last month. It had only 801 miles though and was Denim Black. Other than that it looked stock.
Hope all turns out well for you brother. Will say a prayer for you if that is OK.
GLWS and may you be able to get another rig soon.
I saw a 2010 Fat Boy Lo here in the Panhandle at Heritage HD in FWB for 15k just last month. It had only 801 miles though and was Denim Black. Other than that it looked stock.
Hope all turns out well for you brother. Will say a prayer for you if that is OK.
GLWS and may you be able to get another rig soon.