QUESTION
If you hold the orignial title to the a car and it goes missing. Couple years later it reappears and someone owns it with a new second title. Who is the offical owner of the car?
Asked on Oct 11th, 2012 on Business Law - New Jersey
More details to this question:
When I was younger my father told me I was going to inhert his Ford Mustang. He sent it to be restored at a Deleware auto shop. We eventully moved to New Jersey and Dad forgot to make 1 payment in the chaos of the move. When my dad final called to make a payment the auto shop had sold the car. My dad still has the orininal engine and title. Someone does own this car. Does the original title over rule the second title or is the original title now null an void?
1 ANSWER
Reviews not shown
1 Award
The title certificate is merely evidence of title. However, personal property can be sold pursuant to a possessory (or "mechanic's") lien, and the buyer will acquire good title. As between you and the current lawful possessor of the vehicle, who himself owns record title, you probably lose. In any event, the statute of limitations may prove to be an obstacle. See an attorney where you reside.
Answered on Oct 11th, 2012 at 1:04 PM