[q] Lienholder at the car title?

Hello.
I wonder if anyone out there can give any advise on my situation.
I got a car from my friend back in 1996. As an international student (being ignorant with legal terms), I didn't check the title but it carried a lienholder. I realized it this morning when I registered my car at a different state.
I didn't hear anything about this lienholder (it is a name of company) from my friend back then and the DMV didn't say anything to me when they issued title at 1996.
I was told this morning, as far as the company does not clear the "lienholder" thing , then my title will bear it.
I wonder what I need to do now. Do I need to write a letter to the company and explain that I was not aware of the lienholder thing when I got the car?
My friend is now back in Japan and don't have his number.

Any comment or advise will be greatly appreciated. Thank you.

<BLOCKQUOTE><font size="1" face=" Arial, Verdana, Helvetica">quote:</font><HR>Originally posted by lorien:
Hello.
I wonder if anyone out there can give any advise on my situation.
I got a car from my friend back in 1996. As an international student (being ignorant with legal terms), I didn't check the title but it carried a lienholder. I realized it this morning when I registered my car at a different state.
I didn't hear anything about this lienholder (it is a name of company) from my friend back then and the DMV didn't say anything to me when they issued title at 1996.
I was told this morning, as far as the company does not clear the "lienholder" thing , then my title will bear it.
I wonder what I need to do now. Do I need to write a letter to the company and explain that I was not aware of the lienholder thing when I got the car?
My friend is now back in Japan and don't have his number.

Any comment or advise will be greatly appreciated. Thank you.

<HR></BLOCKQUOTE>

My response:

Here's the way I am reading your post: "I got a car from my friend in 1996. I paid money to my friend for the car, but I didn't get the "Pink Slip"; all I got was the registration. But, I found out that a company owns the car."

If the above statement is true, or close to being accurate, your friend probably stole your money, failed to pay the company that owns the car, and left you "holding the bag."

Don't get stopped by the police. The car has probably been reported stolen by the company. However, call the company and ask if, in fact, they have been paid for the car. If not, ask them what you can do to pay any balance due, and to make arrangements for payments. If they refuse to deal with you, then take the car back to them, or better yet, tell them where they can come get their car - - otherwise you could be arrested for "Grand Theft Auto." Not a pretty sight.

Good luck to you.

IAAL


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