[LBLI5]

I was in the process of purchasing a vehicle from a used car dealership in New Jersey. Unfortunuately, the dealership was seized for defaulting on a loan. The bank who now holds all of the vehicles stated that it is willing to sell me the vehicle, however, the title cannot be located. Any advice on how to obtain a title for the vehicle? Thanks

[ballengerb1]

They can't give yopu a title because they may have seized the [roperty and vehicles but do not have the paperwork to go along with it. I would not put down any cash at this point until they can arrange to give you a clear title. This is not something you can do because you do not own the car, even if you give them cash, you still do not own the car. Call you Sedcretary of States office and discuss getting a title through them , I think they will tell you, no way.

[LBLI5]

The lawyer for the bank that seized the dealership has ownership of all of the property, but has stated that some of the corresponding paperwork was lost or destroyed by the previous owner. They have stated that they will give me a notarized bill of sale to go along with the vehicle, but I don't know how much that will help.

[ballengerb1]

Ask them to use their "ownership" to obtain a title from the state, that is the hang up. The state will not issue you a title based on a bill of sale. Someone else's name is on that title at the moment and the lawyer is skirting that topic. Guess they pay him well.