A man buys a used 1974 Triumph TR6 from a small car dealer in 1990 and finances the car through the same dealer. This man sells the car in 2002 to another man and seller states that the title he has was a duplicate title and shows a lien, with the lien holder being the small dealership he bought it from (He assures the buyer that he paid off the loan, but the dealership went belly up before they cancelled the lien). The man wants the car so he buys it with just a bill of sale and figures he will get the title straightened out at some other point. He dismantles the car, gets to work on repairing rust and something comes along , distracts him and he puts the car into storage. Twenty years go by and this is where I enter the picture. This second man wants to sell the car as he is moving and does not want to pack up the parts for the move. So I am looking at a title from the man that the seller bought the car from, with a lien. I cannot get a title. in my state (MS) with a lien on it, and so I start investigating.
As it turns out, the lien holder, the car dealership from 1990, dissolved his business in 1997 and the man who is the business namesake is listed as the registered agent of assets. He is presently deceased. So is his brother, the VP of the dealership as well as the secretary, the only other officer connected to the business. The man who bought the car back in 1990 from the now defunct dealership, and is the named buyer on the title, is also currently deceased. The local tax/tag office looked it up and said "you have to get the lien removed before we could give you a title." Understood, but everyone connected with this title seems to have passed. an afternoon spent calling the Dept of Revenue, Secretary of State, the FTC, DMV... yielded no concrete results. They all seem to want me to get paperwork from dissolved companies and/or dead people. It seems a lawyer is required, but that money pushes this little car into the realm of "not worth it."
Anyone struggled with this that is able to offer any advice would be much appreciated!
Andrew
As it turns out, the lien holder, the car dealership from 1990, dissolved his business in 1997 and the man who is the business namesake is listed as the registered agent of assets. He is presently deceased. So is his brother, the VP of the dealership as well as the secretary, the only other officer connected to the business. The man who bought the car back in 1990 from the now defunct dealership, and is the named buyer on the title, is also currently deceased. The local tax/tag office looked it up and said "you have to get the lien removed before we could give you a title." Understood, but everyone connected with this title seems to have passed. an afternoon spent calling the Dept of Revenue, Secretary of State, the FTC, DMV... yielded no concrete results. They all seem to want me to get paperwork from dissolved companies and/or dead people. It seems a lawyer is required, but that money pushes this little car into the realm of "not worth it."
Anyone struggled with this that is able to offer any advice would be much appreciated!
Andrew