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SVTPerformance's Chain of Restaurants
Road Side Pub
Bought a car, guy wont ship title??
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<blockquote data-quote="blacknight07607" data-source="post: 10895267" data-attributes="member: 5941"><p>Well, normally what happens is that if the vehicle has been financed, the person(s) name(s) would be on the title but the bank would be listed as the lien holder. This is because the owner still owes the lien holder money for the vehicle.</p><p>Once the vehicle is PIF (Paid in Full) the Lien Holder would stamp/sign in teh appropiate area verifying the debt has been satisified and the Buyer(s) would be the owners of the vehicle.</p><p>THe reason why the owner must sign the title is because technically they are the owners and without a signature from them the new buyer cannot have the title put in his/her name</p><p></p><p></p><p>Now I'm hoping when the OP paid off the vehicle, he made some sort of note in teh memo field stating (paid off vehicle for my purchase) or something to that nature</p><p>Or at least, stay in contact with the bank, to get some type of address or something where the title was sent to.</p><p>It would have made more sense if the bank mailed YOU the title directly, then you make a photo copy of it. Them mail the original to the owner to sign it and mail it back.</p><p>That way you can have some type of proof or something.</p><p></p><p>But as long as you have some type of receipt of the purchase, you shouldn't be TOTALLY screwed and have some ammunition in case it goes to court</p><p></p><p></p><p>GOOD LUCK</p><p></p><p></p><p></p><p></p><p>The reason why is becaue they must send it to the owners name & address on the title. </p><p>Remember, they obtained this info from the sales contract at the time of purchase.</p><p></p><p>Only way they would send the title to someone else is if the vehicle was traded in for another vehicle or something.</p><p>When trading in your old vehicle that you still owe payments on, the remaining payment are added to your new vehicle and your old one is paid off. Then you have a new bank as a lien holder.</p><p></p><p>Otherwise the title will be mailed to the owners(s) namee & address on the title which was obtained during the time of purchase.</p><p>If you have moved, The bank requires you to update your mailing info for these reasons.</p></blockquote><p></p>
[QUOTE="blacknight07607, post: 10895267, member: 5941"] Well, normally what happens is that if the vehicle has been financed, the person(s) name(s) would be on the title but the bank would be listed as the lien holder. This is because the owner still owes the lien holder money for the vehicle. Once the vehicle is PIF (Paid in Full) the Lien Holder would stamp/sign in teh appropiate area verifying the debt has been satisified and the Buyer(s) would be the owners of the vehicle. THe reason why the owner must sign the title is because technically they are the owners and without a signature from them the new buyer cannot have the title put in his/her name Now I'm hoping when the OP paid off the vehicle, he made some sort of note in teh memo field stating (paid off vehicle for my purchase) or something to that nature Or at least, stay in contact with the bank, to get some type of address or something where the title was sent to. It would have made more sense if the bank mailed YOU the title directly, then you make a photo copy of it. Them mail the original to the owner to sign it and mail it back. That way you can have some type of proof or something. But as long as you have some type of receipt of the purchase, you shouldn't be TOTALLY screwed and have some ammunition in case it goes to court GOOD LUCK The reason why is becaue they must send it to the owners name & address on the title. Remember, they obtained this info from the sales contract at the time of purchase. Only way they would send the title to someone else is if the vehicle was traded in for another vehicle or something. When trading in your old vehicle that you still owe payments on, the remaining payment are added to your new vehicle and your old one is paid off. Then you have a new bank as a lien holder. Otherwise the title will be mailed to the owners(s) namee & address on the title which was obtained during the time of purchase. If you have moved, The bank requires you to update your mailing info for these reasons. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Bought a car, guy wont ship title??
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