What is the name of your state (only U.S. law)? Texas
In April of 2009 I purchased a off road motorcycle from a kid. It is not street legal and cannot be ridden on the street. Verbal agreed to price was $2700 On April 11,2009 when I drove and loaded up the motorcycle before I paid I asked for the title. The kids mom said " I just had it last night, but I have set it down and cannot find it now." She looked for it about 30 minutes, then I struck this deal:
I said I would pay the seller $2200 and I would keep $500 back until he produced the title. I had printed off an identical receipt x2 and I added these comments to both: " Remainder of $500 to be paid upon Buyer receipt of title"
I sent numerous emails over the past months and finally told him he needed to submit to state of Texas for a missing title. I got a call from his stepdad 2 weeks later on 7/29/09 telling me this: " The bike was bought new in the State of Michigan. It was next purchased by a guy in Houston, Texas and he never transferred the title to himself from original owner." This guy then bought it from him and they have now lost the title. He said Texas DPS told him he would need to go back to State of Michigan to file for this lost title, and he refuses to do that. He said that I could a) Sell him back the MC for $2100 or b) Send his kid the $500 I told him I wanted to keep the MC as I had put another $400 in it and I would lose money on the deal. I also told him regarding the deal I struck with his stepson and he refused to honor that.
So thus my question: I have the MC and the signed receipt of purchase from the owner plus the statement regarding when I get the title, I would pay the $500. I now do not want to pay the $500 and keep the motorcycle w/o a title. Of course I will have no title, but I never plan on licensing the bike anyway. It will hurt my resale, but so be it. Is it true that as they say " Posession is 9/10's of the law" and can I refuse payment of the final $500?
In April of 2009 I purchased a off road motorcycle from a kid. It is not street legal and cannot be ridden on the street. Verbal agreed to price was $2700 On April 11,2009 when I drove and loaded up the motorcycle before I paid I asked for the title. The kids mom said " I just had it last night, but I have set it down and cannot find it now." She looked for it about 30 minutes, then I struck this deal:
I said I would pay the seller $2200 and I would keep $500 back until he produced the title. I had printed off an identical receipt x2 and I added these comments to both: " Remainder of $500 to be paid upon Buyer receipt of title"
I sent numerous emails over the past months and finally told him he needed to submit to state of Texas for a missing title. I got a call from his stepdad 2 weeks later on 7/29/09 telling me this: " The bike was bought new in the State of Michigan. It was next purchased by a guy in Houston, Texas and he never transferred the title to himself from original owner." This guy then bought it from him and they have now lost the title. He said Texas DPS told him he would need to go back to State of Michigan to file for this lost title, and he refuses to do that. He said that I could a) Sell him back the MC for $2100 or b) Send his kid the $500 I told him I wanted to keep the MC as I had put another $400 in it and I would lose money on the deal. I also told him regarding the deal I struck with his stepson and he refused to honor that.
So thus my question: I have the MC and the signed receipt of purchase from the owner plus the statement regarding when I get the title, I would pay the $500. I now do not want to pay the $500 and keep the motorcycle w/o a title. Of course I will have no title, but I never plan on licensing the bike anyway. It will hurt my resale, but so be it. Is it true that as they say " Posession is 9/10's of the law" and can I refuse payment of the final $500?