How do I resolve a lien on my motorcycle's title?
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How do I resolve a lien on my motorcycle's title?
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I bought a fixer-upper motorcycle without a title from a friend, only knowing that it was not stolen (vin search).
A couple of months ago I went to the tag office to try to register, or at least get a lost title application. I was informed that the bike was last registered in 2005 under an unfamiliar name, and that the title at last registration had a lien on it under GE Consumer Card Company.
I was given a form that the lien-holder must sign saying that the lien is resolved.
After Googling the company, the best that I could guess is that this is a subsidiary of GE Financial.
I then tried to contact them, had my call outsourced to India, and because I don't actually hold an account with them, they will not tell me anything at all (though I haven't had the time to wait for a supervisor to speak with (and I've waited for 25 minutes before I had to hang up).
My question:
What should I do?
Who would be able to help me?
Insurance company? Lawyer? WTF?!?!?
Thanks!
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mustanger
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You need a lawyer. I hope you learned from this to never buy a vehicle without a clear title, friend or no friend. And with friends like that you sure don't need enemies. |
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LK
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Try looking through here!
http://www.dmv.org/fl-florida/vehicle-registration.php
For future reference:
http://www.autocheck.com/consumers/gatewayAction.do?WT.mc_id=2423&siteID=2423
-How many people have owned this car?
-Has the car ever been in an accident?
-Has the car been damaged by floods, fires, hail or other natural disaster?
-Is the mileage on the odometer trustworthy?
-Has the car ever been recalled?
-Was the car used as a service vehicle (police car, taxi, etc.)?
-Has the car ever had a branded title (e.g., junked, salvaged or rebuilt)?
-Was the car ever repossessed or stolen?
-Has the car ever been sold at auction?
-Is there a lien on the vehicle? |
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vicki g
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Many lenders have their own lien release form, but using the DMV form is one way. If the lending company has gone out of business you can look on this website for what company bought up their loans:
http://www.dmv.ca.gov/about/lob/lob_top.htm
And there may be a better phone number listed for you to use. Just tell them you are the owner and you lost all paperwork. You just need duplicate lien release. Have them look it up by the VIN#.
Once you have the lien release, you also need two more forms;
1. duplicate for TITLE REG 227 signed by last known owner
2. Bill of sale and odometer form REG 262 Application for Transfer
The DMV wants to see a paper trail of who has owned the bike and they want their transfer fee for each time. Also the last 4 years of unpaid registration fees are due too. Unfortunately you have taken on all this expense to get it back on the road. |
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