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Family Values
Join Date: Jun 2003
Location: Los Angeles, CA
Posts: 4,075
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Lien sale in California
I may have found a new project car. It's at a shop and the guy says the owner died, and he doesn't have the title.
A red flag is certainly up, but I don't want to dismiss a good deal out of hand. I assume I would need to pursue a lien sale. Assuming that this scenario is legit, what risks are there in trying to process the lien sale? Anyone been through this? * Before you get to far afield, yes, I know RUN!! Believe me, if there is anything fishy, I am walking away. I really just want to learn about the process at this point and whether there are any potential pitfalls. TIA
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- Joe Necessity is the plea for every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves. - William Pitt |
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03-28-2009, 07:47 AM
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Did you get the memo?
Join Date: Mar 2003
Location: Wichita, KS
Posts: 32,298
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Buy it cheap enough that you can part it out and still make money, just in case. Seriously, from what I've been told duplicate titles can be a major PITA.
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‘07 Mazda RX8-8 Past: 911T, 911SC, Carrera, 951s, 955, 996s, 987s, 986s, 997s, BMW 5x, C36, C63, XJR, S8, Maserati Coupe, GT500, etc |
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03-28-2009, 08:11 AM
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Registered
Join Date: Jan 2002
Location: Long Beach CA, the sewer by the sea.
Posts: 37,653
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If it's a legitimate lien sale, you will have no problems at the DMV as long as the lien holder did his part. the lien holder has to contact the estate, publish an ad and so on.
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03-28-2009, 09:32 AM
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Registered
Join Date: Jan 2003
Location: Los Angeles, CA
Posts: 2,099
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Joe
You really need another project! Thanks for the ride to pick up my extra brake pads, I was so rushed to get the car off the lift and out of the garage I don't think I thanked you. Come on by for a beer and have a look at the Mustang when you get some time Steve
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03-28-2009, 10:20 AM
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