[DeTomaso] FW: More Calif Smog Checks

[Michael Shortt]

Try using that arguement when selling a house that still has a mortgage on
it!

Michael in Savannah


On 6/27/07, bill gaino <gaino at earthlink.net> wrote:
>
>
> Asa, If the bank owned the car,,,,,they would have to pay the property tax
> on it. I guess, whoever pays the property tax owns the car, unless of
> coursed it is leased.
> -----Original Message-----
> >From: Will Kooiman <wkooiman at earthlink.net>
> >Sent: Jun 23, 2007 11:09 PM
> >To: michael at michaelshortt.com, 'List DeTomaso' <detomaso at realbig.com>
> >Subject: Re: [DeTomaso] FW: More Calif Smog Checks
> >
> >When does the girlfriend become yours?
> >
> >If you leave her, will she be crushed?
> >
> >-----Original Message-----
> >From: detomaso-bounces at realbig.com [mailto:detomaso-bounces at realbig.com]
> On
> >Behalf Of Michael Shortt
> >Sent: Saturday, June 23, 2007 9:57 PM
> >To: List DeTomaso
> >Subject: [DeTomaso] FW: More Calif Smog Checks
> >
> >That is also how it works in Georgia.
> >
> >Same as a house, it's like the girlfriend, you're just paying to use it
> >until it's yours.
> >
> >and like the Pantera, that's when the bills start to really climb!
> >
> >
> >
> >On 6/23/07, Asa Jay Laughton <asajay at asajay.com> wrote:
> >>
> >> I don't mean to disagree, however as I recall, in the case of my
> >> Pantera, the Bank actually was listed as the owner on the title.  After
> >> it was paid off, they sent us the title, with appropriate paperwork to
> >> submit to the state of Washington so we could then get the title
> >> re-titled in our name and not the banks name.  Maybe it's different in
> >> different states.  Our bank was in Texas, our car was in Washington.
> >>
> >> Asa Jay
> >>
> >> Asa Jay Laughton, MSgt, USAFR, Retired
> >>
> >> & Shelley Marie
> >> Spokane, WA
> >>
> >> 1973 Pantera L 5533
> >> [ASASCAT]
> >>
> >> ******************************
> >> http://www.asajay.com
> >> http://www.351c.info
> >>
> >>
> >>
> >>
> >> Dan Mixon wrote:
> >> >> I'm not sure about California but the states I've lived in the tile
> of
> >> the
> >> >> car is held by the finance company until the car is paid for.  I
> maybe
> >> >>
> >> > wrong
> >> >
> >> >
> >> >> but isn't the tile holder the actual owner of the car.
> >> >>
> >> >
> >> >
> >> >
> >> > No. When you buy a car and finance it, you agree to certain terms
> >> (finance
> >> > contract). The title is in your name but it is held by the finance
> >> company.
> >> > The finance company doesn't own the car, you are the owner of the
> car.
> >> The
> >> > contract with the finance company gives them certain rights regarding
> >> the
> >> > car. If you quit paying, they get to come and take the car. They then
> >> have
> >> > the right to sell the car. If they sell it for less than you owe, you
> >> are
> >> > still legally required to pay the difference. When you pay off the
> loan,
> >> the
> >> > finance company stamps the lien is paid and sends the title to you.
> >> >
> >> >
> >> >
> >> > In the case of the California rice racers, it wouldn't matter if
> there
> >> is a
> >> > lien. The state has the right to take the car from the racer because
> of
> >> > illegal activities involving the car (stolen parts and street racing,
> >> maybe
> >> > grand theft auto to get the parts). If there is a lien against the
> car,
> >> > that's between the owner and finance company, not the state and the
> >> finance
> >> > company.
> >> >
> >> >
> >> >
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> >
> >
> >--
> >Michael L. Shortt
> >Savannah, Georgia
> >
> >
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> >Michael L. Shortt
> >Savannah, Georgia
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-- 
Michael L. Shortt
Savannah, Georgia


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