legalinquirer
Junior Member
I am currently residing in Florida, but I might move to Georgia very soon.
I am on the verge of purchasing a motorcycle from an individual, a friend of a brother-in-law. He acquired the motorcycle (99 Suzuki.. ~ worth $4,000) from another individual who was in a pinch for cash as collateral. The original owner has signed the title (VIN matches) over as a gift. The recieved by line remains blank. He has not been seen for a month, and the individual who currently has the motorcycle in his possession wants to sell it to me for $2500.
I am a bit leary of buying this motorcycle, as I don't know what would happen if the original owner all of a sudden showed up and wanted his motorcycle back. Another concern is if he took out a title loan on the motorcycle before he disappeared, which I have been told would make the motorcycle the property of the entity who loaned him the money.
Does anyone know what might happen if either of these scenarios came true, in either state? Any well informed input would be greatly appreciated.
-Robert
I am on the verge of purchasing a motorcycle from an individual, a friend of a brother-in-law. He acquired the motorcycle (99 Suzuki.. ~ worth $4,000) from another individual who was in a pinch for cash as collateral. The original owner has signed the title (VIN matches) over as a gift. The recieved by line remains blank. He has not been seen for a month, and the individual who currently has the motorcycle in his possession wants to sell it to me for $2500.
I am a bit leary of buying this motorcycle, as I don't know what would happen if the original owner all of a sudden showed up and wanted his motorcycle back. Another concern is if he took out a title loan on the motorcycle before he disappeared, which I have been told would make the motorcycle the property of the entity who loaned him the money.
Does anyone know what might happen if either of these scenarios came true, in either state? Any well informed input would be greatly appreciated.
-Robert