Abandoned vintage vehicle included in sales contract of commercial property.

[RallyRedd]

What is the name of your state (only U.S. law)? Oklahoma

My husbands company purchased a building and in the building was a vintage car. His boss was told the car was abandoned by the pervious owner (it was in for repairs and the owner never came back for it) in 2009. My husbands boss is a car collector and asked if the current building owner would leave the car on the property as an ammenity. The owner agreed and this statement was included in the sales contract. The contract was signed and sale was effective the 26th of this month. Now 2 days later, the person who originally owned the car mysteriously shows up and wants it. Apparently the car owner owed money to the repair shop but was unable to pay. The owner assumes now that since the previous company relinquished the car to the new building owners, he can just come and get it. Is the vehicle rightfully his or the new building owners?

Thank you!

 

[tranquility]

I am uncertain as to if the company would be a bona fide purchaser for value because such needs to be without notice of other claims on the item. Here, the key issue would be the meaning of "abandoned" under Oklahoma law. Because there may be a lien against it and we have no idea of the communications between the former owner and the vehicle's purported owner, it is difficult to know the result.

I'd contact the former property owner and see what steps he has taken. Perhaps he can try to enforce a mechanics lien against the vehicle owner and make a deal with him to exchange the vehicle for the amount owed and then the former owner can just fulfill his part of the contract with company.

Strictly speaking, I'm not sure the vehicle doesn't belong to the state.

 

[OHRoadwarrior]

The vehicle belongs to its titled owner, though the previous business owner can potentially file a claim for it. The building owner took no steps to obtain or perfect any kind of lien or ownership. (§4152). He is only capable of transferring the interest he has, which appears to be none.