<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by CMB:
I recently purchased a highly collectible item at an estate sale. The persons conducting the sale were unaware of it's value and I purchased it without documentation or provenance. I have offered it for sale to a collector. He is hesitant because of what he calls "no clear title" on the item. He feels that if this item was purchased by me from someone who had aquired it illegally, it could be seized from him. I have my cancelled check for the item. Is it mine to sell? Can my buyer purchase it from me without risk? <HR></BLOCKQUOTE>
My response:
Obviously, the item is of great value, and your buyer is not only being careful, but prudent.
I would suggest that you obtain a signed bill of sale, describing the item in great detail, and attaching a copy of the Executor's "Letters Testamentary" which are court orders allowing the Executor to sell the items, or items, from the Estate. Then you'll have clear, and provable, title to the property.
You see, you may in fact, have a cancelled check, but your buyer doesn't know the veracity of the person from whom you bought the item, and prudently wants to make sure you have clear title to sell the same.
I would do the same if you were selling the item to me. Your buyer is a wise person, so I'm sure you can appreciate his position in the matter. He just wants to make sure he's not "receiving stolen property."
IAAL
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