Date: Wed, 21 Jul 2010 16:20:10 -0700
Reply-To: BenT Syncro <syncro@GMAIL.COM>
Sender: Vanagon Mailing List <vanagon@gerry.vanagon.com>
From: BenT Syncro <syncro@GMAIL.COM>
Subject: Re: Clear Title? Was Buying advice
In-Reply-To: <vanagon%2010072117571143@GERRY.VANAGON.COM>
Content-Type: text/plain; charset=us-ascii
As long as the bank stamp or authorized signature is in the paperwork, DMV should accept it -- subject to someone objecting to the paperwork. Banks almost never dig through DMV records.
I would file it asap. Once it's in the DMV records, you won't need to worry about losing it. I had such a hassle chasing down a closed bank before. Fortunately, most banks have 'successors'. Essentially another bank and/or corporation that takes their place in the event of bank failure. You can always lien sale the vehicle if the original lienholder cannot be located. However, there is a risk that one or more if the former owners might try to claim they still have an interest in the vehicle. If you don't have a recorded release... well that can be a PITA. Turn in the paperwork tomorrow so you won't have to worry about it.
BenT
On Jul 21, 2010, at 2:52 PM, Walter Houle <whoule@ECSCONTROLS.COM> wrote:
> All this talk about clear titles got me thinking. My registration slips
> over the years have always listed the banks name, even though I paid it
> off in 1991. So, I go to my files, and sure enough I have the pink slip
> and lien release from the bank all nice and notarized and stamped and
> everything. I never sent it back to the DMV! I'm not too good at buying
> and selling cars I guess - we keep them for years.
>
> So, my question is, what are the chances the CA DMV will accept my 19 year
> old paperwork? The bank still exists too, btw.
>
> Walter
> 85 Vanagon in San Diego
>
>
>
>
>
> On Tue, 20 Jul 2010 21:02:47 -0700, Jim Arnott <jrasite@EONI.COM> wrote:
>
>> Craig, before I spent even another dollar on this Vanagon, I'd get a
>> title for it. I bought one in a similar condition and it took three
>> years to get a clear title. And it was not stolen. It belonged to a
>> bank that no longer existed. Times two. The bank that owned it was
>> acquired then THAT bank was acquired. Tough to get a release of
>> interest when the bank can't find the title or the loan papers. (And
>> the location of the original bank was a hole in the ground where the
>> new civic center was being built.... In another state.)
>>
>> Good luck Craig. Glad you have the metal. Worst case, you can get a
>> titled 2wd van and move the Syncro stuff over.
>>
>> Jim
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