[DeTomaso] Another inquiry......... talk to me about car titles please.

[boyd casey]

>From a strictly technical standpoint (legal) The jersey guy is trying to
sell the car without titling it in his name ( this is called jumping title)
he is evading paying sales tax on his purchase. This is illegal in every
state I know. The new buyer could also run into trouble if  Pro Auto sales
is no longer in business and DMV rejects the paper work for some reason.
When I bought my car 2 1/2 years ago the seller still had the title from the
person he bought it from in 1984. Now this person had a dealers licence and
was legally allowed to do a reassignment of title( that's when you sell a
car without ever taking it in title in your name. Most states titles or tile
paper work allow for up to three reassignments by licensed dealers before
the car must be re titled. A private seller can not do a reassignment ( as I
said earlier this is called jumping title ) the buyer should insist that the
current seller provide a current title in the sellers name. Without that
document the sale to the new buyer would not really be legal and the buyer
could wind up the creek.
If he had a problem he can't tell dmv he bought the car from "ProAuto sales
" because he didn't so he wouldn't have a valid title transfer. There are
ways to buy a car with out a title but it is to complicated to get into here
and requires allot of due diligence first to make sure there are no other
parties with claims or liens on the car.
Boyd

On Thu, Jul 8, 2010 at 4:19 PM, Sean Korb <spkorb at gmail.com> wrote:

> The bank also wants to be sure there are lo liens against the car.
>
> On Thu, Jul 8, 2010 at 3:47 PM, Asa Jay Laughton <asajay at asajay.com>
> wrote:
> > I had to title it in CA first, then in my home state.  The bank still
> > kept the title, but I had no hassles from my them.  The only hassle
> > was that I couldn't get it licensed to -drive- it home, without first
> > doing a title transfer in CA. (It was a CA car that had not been
> > registered in years).  The title however wa still in the owners name.
> >
> > -That- is probably more the issue, that the present owner does not
> > have clear title to the vehicle if they -never- transferred the title.
> >  So the bank is probably being cautious.  They wouldn't want to
> > finance a car that ended up being stolen.
> >
> > Asa Jay
> >
> > Quoting Dee Hart <qqpursuit at gmail.com>:
> >
> >> This what I think I know................OK a guy in Jersey buys a
> pantera
> >> from (Pro Auto sales) Penn.   The Jersey guy puts it in the garage and
> never
> >> registers or Titles the car in the Jersey guys name.  Now the Jersey guy
> >> wants to sell it.     An out of state buyer comes a long and would
> probably
> >> want to buy the car but would prefer to finance the car.  The finance
> >> company says no, because the car is not Currently titled.        Is that
> >> customary for a finance company to make that requirement?   Does the out
> >> of state buyer simply get a copy of the title that I guess would be in
> Pro
> >> Auto Sales name and show it to the Finance company?             Or maybe
> the
> >> out of state buyer simply gets a home equity loan and goes that route,
> and
> >> screw that finance company?
> >>
> >> Curious.................... Doug.H
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> --
> Sean Korb spkorb at spkorb.org http://www.spkorb.org
> '65,'68 Mustangs,'68 Cougar,'78 R100/7,'60 Metro,'59 A35,'71 Pantera #1382
> "The more you drive, the less intelligent you get" --Miller
> "Computers are useless.  They can only give you answers." -P. Picasso
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