I agree! esp if it were indeed stolen or something like that....I would NOT be okay with just donating it back to the Bank though lol....
Found 2005 YZF600R in shed at my house
- Thread starter R1der
- Start date
I agree! esp if it were indeed stolen or something like that....I would NOT be okay with just donating it back to the Bank though lol....
OP are you sure its an 05 model year? Gauges look a bit older? I was thinking they were digital that year....
**EDIT** Nvm seeing now that they made an R6 and the 600R that year....Forgot Yamaha did that.....
**EDIT** Nvm seeing now that they made an R6 and the 600R that year....Forgot Yamaha did that.....
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If it was stolen, the old owner likely already got paid out from his insurance, and got more money than he owed at the time and bought something else and forgot about it.
fail
That's only if he said person had full coverage! Which a lot of people do not always carry....
It's a peace of mind thing imo....Some people might not care, personally I would check up on it!
Shut up Jason! :lol: I corrected it!
That is what I tried to do, but it turns out the guys is a doosh and he just left it and it has a lien on it and HOUSEHOLD BANK is the title holder and he was trying to get money from me
BUT!!!!! the weird thing is after spending an hour on the phone with the bank that is on the title they said they have no record of the bike
so what do i do now
I'd think the bank would have to release the lien on it before you could title it in your name. (That's how it works in IL anyways) So if they are saying they have no record of it then I'd be asking if they have a problem with releasing the lien....lol Something tells me they'll find there paperwork if there is indeed money owed against it.
gotta take the ignition out and bring that in
This is a weird situation honestly I've hit a wall here what do I do now?
its not stolen
the old owner is a tool and
the bank has no record of it???????????
its not stolen
the old owner is a tool and
the bank has no record of it???????????
1. You've made an attempt, that's good enough for a clear conscience.
2. Call the DMV and see what would be required to get the bike in your name.
3. See if you can get the required paperwork from the appropriate sources (owner, bank, etc.)
2. Call the DMV and see what would be required to get the bike in your name.
3. See if you can get the required paperwork from the appropriate sources (owner, bank, etc.)
bingo
All you need to do is look at your contract- if "everything" was conveyed upon closing, you legally own everything and anything that was part of, attached, or not excluded in the sales price.
It will read similar to this:
PROPERTY: (a) Land: Address: ____________________________________________________________ [insert full address] or more specifically described as: ______________________________________________
_________________________________________________________________________________________
_________________________________________________________________________________________, or as described in the attached exhibit. (b) Improvements: The house, garage and all other fixtures and improvements attached to the above-described real property, including without limitation, the following permanently installed and built-in items, if any: all equipment and appliances, valances, screens, shutters, awnings, wall-to-wall carpeting, mirrors, ceiling fans, attic fans, mail boxes, television antennas and satellite dish system and equipment, heating and air-conditioning units, security and fire detection equipment, wiring, plumbing and lighting fixtures, chandeliers, water softener system, kitchen equipment, garage door openers, cleaning equipment, shrubbery, landscaping, outdoor cooking equipment, and all other property owned by Seller and attached to the above described real property. (c) Accessories: The following described related accessories, if any: window air conditioning units, stove, fireplace screens, curtains and rods, blinds, window shades, draperies and rods, controls for satellite dish system, controls for garage door openers, entry gate controls, door keys, mailbox keys, above ground pool, swimming pool equipment and maintenance accessories, and artificial fireplace logs. (d) Exclusions: The following improvements and accessories will be retained by Seller and excluded:
_________________________________________________________________________________________
_________________________________________________________________________________________
The land, improvements and accessories are collectively referred to as the "Property".
To be absolutely sure of your rights, you may need to pony up some cash and consult an attorney. Some states have different laws, but for the most part if there are no exclusions (foreclosure or not) in the real estate contract, when you buy the house, anything and everything goes with it.
Texas uses a pretty standard Real Estate form, approved by TREC, so I doubt there are any funky "catches" in your contract.
It will read similar to this:
PROPERTY: (a) Land: Address: ____________________________________________________________ [insert full address] or more specifically described as: ______________________________________________
_________________________________________________________________________________________
_________________________________________________________________________________________, or as described in the attached exhibit. (b) Improvements: The house, garage and all other fixtures and improvements attached to the above-described real property, including without limitation, the following permanently installed and built-in items, if any: all equipment and appliances, valances, screens, shutters, awnings, wall-to-wall carpeting, mirrors, ceiling fans, attic fans, mail boxes, television antennas and satellite dish system and equipment, heating and air-conditioning units, security and fire detection equipment, wiring, plumbing and lighting fixtures, chandeliers, water softener system, kitchen equipment, garage door openers, cleaning equipment, shrubbery, landscaping, outdoor cooking equipment, and all other property owned by Seller and attached to the above described real property. (c) Accessories: The following described related accessories, if any: window air conditioning units, stove, fireplace screens, curtains and rods, blinds, window shades, draperies and rods, controls for satellite dish system, controls for garage door openers, entry gate controls, door keys, mailbox keys, above ground pool, swimming pool equipment and maintenance accessories, and artificial fireplace logs. (d) Exclusions: The following improvements and accessories will be retained by Seller and excluded:
_________________________________________________________________________________________
_________________________________________________________________________________________
The land, improvements and accessories are collectively referred to as the "Property".
To be absolutely sure of your rights, you may need to pony up some cash and consult an attorney. Some states have different laws, but for the most part if there are no exclusions (foreclosure or not) in the real estate contract, when you buy the house, anything and everything goes with it.
Texas uses a pretty standard Real Estate form, approved by TREC, so I doubt there are any funky "catches" in your contract.
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I'd like to think that if your dealing with vehicle that has a lien against it the law would work in favor of the bank. Regardless if it is "parked" in shed of house that "a random person" bought....
As I said, laws will vary from state to state, but if I was a betting man, I would bet that the OP would prevail.
The main question is..was the bike's owner the house owner, or did he just rent it from someone else? That is important.
Because if the bike's owner also owned the home-
The bank knew the original owners address, and IF they wanted the bike or the outstanding money on the note badly enough, they could have put a lien against the house, or even the sale of the house when it was foreclosed on for the amount in default.
No one can say 100% what the OP's options are, because we don't have the whole story.
Yeah...and I hate threads like this because OP's start them, and then forget to keep us updated!
:bash:
I used to deal with Household a lot. They more than likely wrote the bike off after not being able to repo the bike. You would have to talk with their recovery services to find out if they still wanted it. If it is that old I doubt there would be much interest. The stuff they repo goes to one auction company called Powersports auctions I think. (It's been 5 years)They have locations all over the country and once a month auction the repos off. it is very hard to get in. You must have a dealers license and an approved line of credit.Bottom line your answer lies with the DMV and Household.
Good info and interesting thread! 8)
As of right now I'm just waiting for the bank to make a decision cause they didnt know they owned it...but I'll keep you guys updated!
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