Advise? Bought my truck back but title still with guy's bank

if you have bill of sale then id say contact the bank and see if you can pay the rest for the title

Edited: 4/8/2011 9:18:53 PM by DalyDrgr

Paying off the guy is no guarantee you will still get ownership, there is still a lien on the title regardless. If the lien isnt released, you basically gave him money for nothing. You need proof that the lien is free and clear. Paying him off does leave you recourse to take him to court over the failure for him to pay off the lien and provide you with a clear title, but then your talking legal fees and more time spent with no valid truck still.

And just a bit of info, its called a "Mechanics Lien," it does not actually mean you have to be a mechanic to get it, or have a shop to file for it.

Why would you have NOT done a bill of sale?

My guess is this, he took any money you paid him and kept it, didn't pay it down on the loan he owed on this truck. Additionally he is probably NOT paying on the loan anymore. So the bank is going to now be looking for that truck. They will go looking for him, he will have to tell them he sold it to you...which legally doesn't sound like even took place since you have no bill of sale, no title, nothing. Myspace messages aren't going to be that valueable on ownership. It might do you good on some of the condition of the truck issue, but thats about it.

Honestly you did this deal the worst way you could have. Hell he could claim you stole the thing. You have nothing to prove you own it after all. Best of luck, my best advice is call the bank, pay off the loan, they will then send the title to him since he is the actual owner. Play nice with him and he might send you the title. If he doesn't go with the mechanics lien.

I hope everyone reading this can learn something!

When you buy a truck:

Get a bill of sale, and check with the local registration office. Most of the time they will have a sales affidavit that needs to be filled out. Make sure there isn't a note on the truck, and if there is arrangements need to made with the financial institution.

When you sale a truck:

Give a bill of sale that states "AS IS, NO WARRANTY" and check with the local registration office. Most of the time they will have a sales affidavit that needs to be filled out. Take the license plates off the truck before it leaves your possession. This forces the new owner to put the truck in their name or steal somebody elses plates, regardless the Sheriff won't be looking for you with human trafficking charges.

Talk with bank. Be nice to the guy! If you get a lawyer be prepaired it going to cost you coin. Lawyers go by hundreds per hour. I have used lawyers in the past and before you know it you will have spent as much on lawyers as the entire truck. And once you start down that path there is NO going back! I would try to be cool to the guy and go from there, that would be the cheapest way.

Yeah, I know...my bad...rookie mistake. I didn't even follow my own advise. I guess I was just excited to get the truck back.
I found the wire tranfer record and it clearly states that I will pay the remaining balance that I owe him, 1000, once he brings the balance of his loan equal to that. It's clearly there and he recieved it as well as the bank in the notes of the wire transfer.
I found the number to the bank so I'm going to call them and explain the situation, I know their going to tell me I'm SOL and need to work with the guy to resolve the issue. they don't care, they just want their money.

In Cali you don't need a title to transfer ownership, so assuming we get the note paid all I need is the title released and a Bill Of Sale and when I go to register it just do the apply for duplicate.....what would happen if that was done and the title wasn't released from the lein holder?

not really a thing to do alot of but a long time ago i got a truck once with no title so i got a shit parts truck with a title for $300.00 and swapped vin off dash and tags from under the hood, drove it to the DMV and BAM! it was all good. sold the rest of the truck as parts pice by pice online and got $640.00 back. I made $340.00 off the truck and got a title for the truck..

That advise would have been better in a PM

Anyone in key west wanna make an easy 100 bucks an escort dude to the bank and send me the title?