Originally Posted by
Garrett
odd are in a case like this with such a large amount on a mechanis lien the bank would most likely just sign the title over to Jap Works. But the mother would still be responsible for the remainder of the loan.
well in this case the mother and grandmother since they are both on the loan.
Based on what prior rulings? what do you do, paralegal? law student? or another expertise in title disputes to give you an experience in able to make such a prediction?
There's no guarantee that the mother will continue making a payment on a car that's taken away, and the bank would be stupid to hand the title over gullibly taking the facevalue of the claim exceeding vehicle value.
Since financed cars are required to be covered with a full coverage, if it's wrecked the bank gets the money. The lessee can't transfer the title.
Apparently, anyone can file a mechanics lien..... so anyone can make a claim for any amount. I can even paint my apartment purple, then still file a mechanics lien on the landlord as a painter.
I'm not a legal expert... so I've really got no clue what will happen.. I'm just waiting for importguy1208 to update the first post with answers to questions about relevant facts I asked here:
https://www.tamparacing.com/forums/s...postcount=2742