I’m going to be buying a car from a tow yard that has a lien on it. the car was abandoned. and then towed to the yard.
anyway what is the process of transferring the title once i buy it? also someone told me even after i buy it the owner could take the car back?? I am in cal. all info will help. thanks!
As I understand it, you will be given a wad of paper to take to the DMV, which will issue a clear title in your name.
The owner (if this is a real gov’t-run operation) loses all rights.
Hope you know that make/model inside out - there was a reason the owner abandoned it and did not consider it worth the amount of the lien.
The tow truck company should be able to do some sort of process (which varies from state to state) which basically gets a clear title on the car. At that point the owner can’t show up and reclaim the car.
However, make sure the towing company actually does it. Again, it varies from state to state, but in the states I’m familiar with, towing companies are the only ones who can easily get a clear title for an abandoned vehicle. For the general public, the only option they have is a bonded title, where you post a bond in some portion of the value of the vehicle and the state holds onto it for some amount of time. It’s a major hassle and plus the owner could actually show up and take you to small claims court over it. You definitely don’t want to deal with that, so make very certain that the tow company is selling you a car with a clear title.