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gzpz424 · Dec 13, 2008, 09:54 PM

New owner of a motorcycle has a New Title of Ownership. The title as 1 lean recorded. Can the company holding the lean, collect the motorcycle for moneys owed?

JudyKayTee · Dec 14, 2008, 08:06 AM

Originally Posted by gzpz424

New owner of a motorcycle has a New Title of Ownership. The title as 1 lean recorded. Can the company holding the lean, collect the motorcycle for moneys owed?

Need more info - who owes the money? How did the "old" owner transfer to the "new" owner with an outstanding loan - if that's what you've asked.

And, yes, if the loan was somehow transferred or whatever happens it is still attached to the MC and the MC can be repoed.

this8384 · Dec 15, 2008, 03:41 PM

Agree with Judy; not sure what you're asking here. Are you stating that you purchased a brand-new motorcycle and have a title with a recorded lien on it?

Yes, the company may repossess the motorcycle to collect their money but they'll only do that if you default on the payment.

gzpz424 · Dec 26, 2008, 08:32 PM

I purchased the motorcycle in 2004. I took out a loan for $5000.00 18 months ago my fiancé and I sold it to his brother in law. The finance company said that we can't sell it until the lien was cleared. The advised you to put in writing that he gave us a down payment, and that he would take over the payments. I called to give him authorization on the account. Its been over a year ang he has not made 1 payment. He said he has but from the bill its not true. I went to dmv to get a duplicate title and the said no, because I no longer own the bike. HE Does. Somehow he go the title transferred over to him and he is now the owner, but it still says 1 lean recorded. He was told he needed to contact the lean holder to get the title clean and free in order to claim ownership. Now I owe $3559.00 and I don't even own the bike.

this8384 · Dec 29, 2008, 08:21 AM

Originally Posted by gzpz424

I purchased the motorcycle in 2004. I took out a loan for $5000.00 18 months ago my fiance and I sold it to his brother in law. The finance company said that we can't sell it untill the lein was cleared. The advised you to put in writing that he gave us a down payment, and that he would take over the payments. I called to give him authorization on the account. Its been over a year ang he has not made 1 payment. he said he has but from the bill its not true. I went to dmv to get a duplicate title and the said no, because I no longer own the bike. HE Does. Somehow he go the title transfered over to him and he is now the owner, but it still says 1 lean recorded. He was told he needed to contact the lean holder to get the title clean and free in order to claim ownership. Now I owe $3559.00 and I don't even own the bike.

Something's not right here. Your fiance's brother would not have been allowed to transfer the title into his name without a lien release; a simple note saying he was going to take over payments won't suffice. Obviously, the lien has not been released because it hasn't been paid, thereby making it impossible for the DMV to change listed owners on the title.

Did the person at the DMV actually tell you that the bike is now transferred into the brother's name, or are you making that assumption? Was the bike originally in your and your fiance's name or just your name? The reason I ask is that I had someone who needed to take a notarized letter from his own wife stating that he was allowed to request and pick up a copy of a title to their family car because the DMV refused to give it to him, as it was in her name only.