street racing question

[gambit90lx]

okay say you get caught street racing and they take your car to be theirs what if you still owe on the the car ? do you continue to pay for it or what? i was just wondering i saw where some of these street racers got their cars taken and made me wonder?

 

[DieselNuts]

I wondered the same thing. I can see how your car can be impounded and you have to pay to get it out, but I dont understand the whole confiscation thing.

 

[Juruense]

If you car is seized by the police you still have to pay off any outstanding loan balance or your credit will suffer.

 

[gambit90lx]

i was just wondering thats what i thought but if they refuse to pay for it and take the credit hit do the cops still get to keep the car or does it go back to the company?

 

[jshen]

Condemnation Statutes

If there is a law providing for condemnation of a vehicle, house etc., it is usually "subject" to the existing lien holder, if any. Typically I see condemnation statutes dealing with cars & houses to transport or distribute illegal substances- If seized, the lien holder can recover their balance. I know that is the case in GA..

I don't know about the Feds...but my neighbor [ another street over ] just got sentenced by the Feds..for medicaid/medicare fraud..42 million..and they took a lot of assets but excluded 2.3 million in his home..which was paid for. Neighbor got 220 months to serve...I don't know why they didn't take his house..but I cannot answer for the feds.

 

[Lightningfr]

they cant keep the car if it has a lien on the tittle

 

[mswaim]

they cant keep the car if it has a lien on the tittle

You better re-check your "facts". They may not be able to keep the car (if the value is upside down, they usually pass) but they can hold it as evidence long enough for you to lose it to the orginal lein holder. You will then be liable for the difference between what you owe and what they sell it for. You will also lose all of your aftermarket parts, since neither the police or the lein holder are responsible for the items.

In most drug case seizures, the cars are paid for, so they make the best sources of asset seizure funds.

 

[jshen]

they cant keep the car if it has a lien on the tittle

Yes we can, if the govt pays off the lien as the driver/former owner forfeited his interest when he committed the crime. There may be an interest to do so where the value vastly exceeds the payoff or where substantial cash was also confiscated and condemned....

Never say never to the govt....especially the fed. govt..