CBR 954RR 2002 - 2003 - CBR 954RR Forum

Having big issues with my title!

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Old Dec 15, 2007 | 02:24 AM
  #1  
txsmainevent's Avatar
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Default Having big issues with my title!

Ok so here is what is goin on...... I purchased my 954 about 2 years ago......came time to register it and never got any paperwork in so I decided to call the lein holders and get something besides the bill of sale I had so I could register the bike.....They said they would send me a copy of the title since the dealership didnt follow threw wit its side of the deal. Never recieved a call back or anything about the title so I called back........They said all they had on hand was a bill slip and never recieved a title from the dealership. Just recently before that the dealership closed down for what reason I dont know I was told they werent paying there loans back so the loan companies shut them down or some bull****. Tried to get in touch with the owner and all he told me is to contact the bank where he was getting the loans to purchase the used bikes and see if they have the title on hand......So i called the bank and never recieved anything back from them...... Being deployed for the last 14 months and trying to take care of this issue before i come home I started back on trying to get something, the lein holders told me that if i paid the bike off they would send a "no dues owed" memo to me and the copy of the bill slip.... So i payed it off and contacted the registration office told them the situation and if I could file for a lost title......They looked in there system and told me the title was never placed in the lein holder or dealerships name and that i would have to either pay a small amount to get the info of the orignal owner which they said would be a dead end or fill out a "bondage title" application. In the process I would have to fill out the application...heres the confusing part.....take it to the dealership and have them fill out a part.....there is no dealership anymore! then send it off and wait to recieve the paper work back. After that i would need to call a insurance company and get a "surity bond" which i have no clue is or what it could cost me......and bring all that to the registration office to get a new title. Im ****in lost now cuz i dont want this whole process to turn into a big money thing cuz i have never heard of a "surity bond" and dont have a clue what it is gonna cost me....also my last resort is to buy another frame wit a clean title and start to rebuild which is my last resort....but if the price of all this outweighs buyin a clean title frame then imma have to go wit the frame.....can somebody please help me if they been in this situation or give me some guidence cause im starting to get really pissed off!

SORRY FOR THE LONG PARAGRAPH BUT THAT IS THE ONLY WAY SOMEBODY WOULD UNDERSTAND GIVING ALL THE DETAILS!
 
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Old Dec 15, 2007 | 07:36 AM
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Default RE: Having big issues with my title!

you still overseas??> have you actually went down to a DMV building?
 
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Old Dec 15, 2007 | 10:03 AM
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Default RE: Having big issues with my title!

Try to go through the JAG office first. They may have an answer. Its worth a try.
 
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Old Dec 16, 2007 | 01:26 PM
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Default RE: Having big issues with my title!

You could also file a mechanics lein on the bike. It goes like this (super-summarized version, all numbers are hypothetical): You tell the DMV that you did some work on the bike for the previous owner--you did this work 2 years ago (when you actually bought the bike). The owner never came through with the money for his repairs (about $700 worth), and you have had the bike in storage waiting for his cash. Your storage fee is $10 a day, times 2 years--this equals $7300 in storage fees, plus your "repair" fee (all of these numbers are subject to change to fit your situation). You file a lein on the original title for $8000 (storage of $7300 + $700 repair), stating that if the owner doesn't pay you what he owes you, the bike becomes yours and you can do with it what you wish. The DMV will attempt to contact the original owner, he will either not be able to be found, or if he is he surely won't come up with the money. In the end, after 60-90 days depending on your state, the bike becomes yours legally, free and clear. Obviously, check with your state for details, but that's the gist of it.
 
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Old Dec 17, 2007 | 03:55 PM
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Default RE: Having big issues with my title!

so you never recieved registration? even when you first bought it?
 
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Old Dec 18, 2007 | 07:17 AM
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txsmainevent's Avatar
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Default RE: Having big issues with my title!

I actually looked more into the whole process, not hard at all and should be takin care of really soon. just paperwork and time.....it will come togather tho!
 
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Old Dec 18, 2007 | 10:27 AM
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Default RE: Having big issues with my title!

good to hear
 
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