MotoHouston.com MotoHouston.com
Register Members List Member Map Media Calendar Garage Forum Home Mark Forums Read

Go Back   MotoHouston.com > General Discussion > Taking it to the Track
Forgot info?

Welcome to MotoHouston.com! You are currently viewing our forums as a guest which gives you limited access to the community. By joining our free community you will have access to great discounts from our sponsors, the ability to post topics, communicate privately with other members, respond to polls, upload content, free email, classifieds, and access many other special features. Registration is fast, simple and absolutely free, join our community!

Register Today!

If you have any problems with the registration process or your account login, please contact us.


Like us on Facebook! Regular shirt GIVEAWAYS and more

Advertisement

Reply
Share This Thread: 
Subscribe to this Thread Thread Tools
Old 07-08-2010, 03:39 PM   #21
ddgtomahawk
Write my name! \/
 
ddgtomahawk's Avatar
 
Join Date: Sep 2008
Location: Alvin
Feedback Rating: (2)
Posts: 5,493

Experience: 10+ years
Trackdays: 10+

Bike(s):
2016 R1
2001 Honda CBR929 RE
2005 Honda CBR600RR
2007 R6S






Quote:
Originally Posted by DvlRacer View Post
On a bike that the bank owns?
Quote:
Originally Posted by po-po 5.0 View Post
Not if a bank is still holding it you can't.
Yes and yes. I do it every once in awhile.
__________________


Come here you little cake eating sieg heil .
ddgtomahawk is offline   Reply With Quote
Similar Topics
Thread Thread Starter Forum Replies Last Post
This fat thread can only be titled "Only in America" eltejano Off Topic 8 06-05-2011 11:56 AM
Buying a bike that has nevern been titled velo29 General Discussion (Moto Related) 15 10-18-2010 08:12 AM
how to make sure bike gets titled in new owners name RACER X General Discussion (Moto Related) 16 09-09-2009 08:51 AM
Salvage titled bikes... mike do General Discussion (Moto Related) 15 04-27-2006 10:37 PM
bike for sale frankjrojas General Discussion (Moto Related) 19 03-09-2006 10:31 PM
Advertisement
Old 07-08-2010, 03:41 PM   #22
DvlRacer
cerca trova
 
DvlRacer's Avatar
 
Join Date: Jun 2007
Feedback Rating: (52)
Posts: 16,446







Member Garage





That doesn't make sense, so just because theoretically "customer x" owes you money, you get to screw over "bank x" by putting a mechanics lien on property they own?
__________________
Quote:
Originally Posted by rob78 View Post
nothing goes unmoderated....
"And so, this tiny metal deathtrap becomes known as the ultimate form of freedom. Like a steampunk cyborg, man and machine fuse to make a symbol of what you can become when style and speed matter more than safety and efficiency. Is it any wonder that some people just get mad every time they see a motorcycle go by? Because it challenges everything they have, while proving to them that they don’t have enough."
DvlRacer is offline   Reply With Quote
Old 07-08-2010, 03:45 PM   #23
bluewave18
Safety Third
 
bluewave18's Avatar
 
Join Date: Oct 2007
Location: S.E.
Feedback Rating: (0)
Posts: 34,121

Experience: 10+ years

Bike(s):
08 Busa
03 XR 50








It works that way. Argue all yall want. I put a lien on a bike owned by a bank. At first I too had my doubts. When the title came in the mail all doubts were gone.
bluewave18 is offline   Reply With Quote
Old 07-08-2010, 03:48 PM   #24
ddgtomahawk
Write my name! \/
 
ddgtomahawk's Avatar
 
Join Date: Sep 2008
Location: Alvin
Feedback Rating: (2)
Posts: 5,493

Experience: 10+ years
Trackdays: 10+

Bike(s):
2016 R1
2001 Honda CBR929 RE
2005 Honda CBR600RR
2007 R6S






Quote:
Originally Posted by DvlRacer View Post
That doesn't make sense, so just because theoretically "customer x" owes you money, you get to screw over "bank x" by putting a mechanics lien on property they own?
"customer x" owes 8,000$ on a car valued at 4,000$ I installed a 3000$ motor. I do not receive payment I lien the vehicle then the lien holder decides either to pay me or relinquish the title. They can sell it for a 1000 dollar recovery "maybe" so they give me the car.
__________________


Come here you little cake eating sieg heil .
ddgtomahawk is offline   Reply With Quote
Old 07-08-2010, 04:03 PM   #25
bluewave18
Safety Third
 
bluewave18's Avatar
 
Join Date: Oct 2007
Location: S.E.
Feedback Rating: (0)
Posts: 34,121

Experience: 10+ years

Bike(s):
08 Busa
03 XR 50








. There are dealers who buy cars and bikes that are fixing to be repossessed by the bank. I know one. He will buy it for cheap from the person whose credit is all fugged up anyway. They are fixing to lose it and he is willing to pay them. Plenty will jump all over it. He will then put a lien on it and the bank will un the title.
bluewave18 is offline   Reply With Quote
Old 07-08-2010, 04:05 PM   #26
DvlRacer
cerca trova
 
DvlRacer's Avatar
 
Join Date: Jun 2007
Feedback Rating: (52)
Posts: 16,446







Member Garage





What happens to the guy who owes the bank money? They can't still charge him for it once they relinquish title, so it gets wiped clean?
DvlRacer is offline   Reply With Quote
Old 07-08-2010, 04:06 PM   #27
ddgtomahawk
Write my name! \/
 
ddgtomahawk's Avatar
 
Join Date: Sep 2008
Location: Alvin
Feedback Rating: (2)
Posts: 5,493

Experience: 10+ years
Trackdays: 10+

Bike(s):
2016 R1
2001 Honda CBR929 RE
2005 Honda CBR600RR
2007 R6S






The monetary amount just hits his credit.
__________________


Come here you little cake eating sieg heil .
ddgtomahawk is offline   Reply With Quote
Old 07-08-2010, 04:07 PM   #28
bluewave18
Safety Third
 
bluewave18's Avatar
 
Join Date: Oct 2007
Location: S.E.
Feedback Rating: (0)
Posts: 34,121

Experience: 10+ years

Bike(s):
08 Busa
03 XR 50








He is still liable for the debt. He doesnt care though. His credit is already screwed up for the repo. He will likely get a judgement if the value is high and nada if its too low. They will just report it on his credit.
bluewave18 is offline   Reply With Quote
Old 07-08-2010, 04:10 PM   #29
bluewave18
Safety Third
 
bluewave18's Avatar
 
Join Date: Oct 2007
Location: S.E.
Feedback Rating: (0)
Posts: 34,121

Experience: 10+ years

Bike(s):
08 Busa
03 XR 50








When your shyt is repoed they will sell it at auction for nothing and you owe the remaining balance.
ex. You owe 5000.
repo costs 500
auction net 1000
you owe 3500
bluewave18 is offline   Reply With Quote
Old 07-08-2010, 04:17 PM   #30
sub-par
Senior Member
 
sub-par's Avatar
 
Join Date: May 2010
Location: North Side
Feedback Rating: (1)
Posts: 215

Experience: 5 years
Trackdays: 10+

Bike(s):
2006 636
m109
duc 1098







what kinda bike is it.....

bluewave check your pm's
sub-par is offline   Reply With Quote
Old 07-08-2010, 04:26 PM   #31
bluewave18
Safety Third
 
bluewave18's Avatar
 
Join Date: Oct 2007
Location: S.E.
Feedback Rating: (0)
Posts: 34,121

Experience: 10+ years

Bike(s):
08 Busa
03 XR 50








replied
bluewave18 is offline   Reply With Quote
Old 07-08-2010, 05:53 PM   #32
Ariel66
Senior Member
 
Join Date: Jun 2010
Feedback Rating: (0)
Posts: 130












Thanks guys, I think I'll go the safer route and buy one with a clean title, on this website's classifieds.
Ariel66 is offline   Reply With Quote
Old 07-08-2010, 09:46 PM   #33
Timme'
Tim-Maaaay!
 
Timme''s Avatar
 
Join Date: Jun 2008
Location: Georgetown, TX
Feedback Rating: (0)
Posts: 448


Bike(s):
08 Triumph Daytona 675









you guys are out of your mind... No offense :-)

My spousal unit is an attorney for JP Morgan Chase. Here is how this works:

1. Customer takes a loan to buy a car/bike/house/whatever.
2. Bank pays the seller and owns the title on the item. aka they are the lien holder (also known as the first lien holder).
3. Customer doesn't pay for the item at any time during the agreement.
4 Bank attempts to repo the item and sell it anyway possibe. If the item is worth more than what is owed (very rare) they send the customer a fat bill for the legal fees and suck the rest of the money until what is left goes back to customer.
5. If the item is a vehicle and a mechanic happens to have the vehicle. They have the right to put a "mechanics lien" on the item for work they have done. They become what is known as a second lien holder in our example. Bank still has first rights to the item, and any money from selling it, no matter what anyone has done to the item. They will almost always work with the mechanics to make this work out. But legally they have the right to the money when the item is sold. Otherwise no bank would ever every loan anyone any money to buy a automobile or motorycycle of any kind. How could they if anyone could put a lien and trump thier rights to collect the debt. This is also why title searches are done on items bank purchase, they want to ensure they can get the first lien on items they are loaing money for.

Anywho, just to let you know how this really works. Trust me when I say if the bank wants to press charges, file judgements, etc etc they will. Hence that long contract thing you sign when you borrow their money :-)
__________________
“I am so busy doing nothing... that the idea of doing anything - which as you know, always leads to something - cuts into the nothing and then forces me to have to drop everything.”
Timme' is offline   Reply With Quote
Old 07-08-2010, 09:51 PM   #34
bluewave18
Safety Third
 
bluewave18's Avatar
 
Join Date: Oct 2007
Location: S.E.
Feedback Rating: (0)
Posts: 34,121

Experience: 10+ years

Bike(s):
08 Busa
03 XR 50








I still got the title from the bank. Never paid a cent to the bank with the title.
bluewave18 is offline   Reply With Quote
Old 07-09-2010, 10:03 AM   #35
ddgtomahawk
Write my name! \/
 
ddgtomahawk's Avatar
 
Join Date: Sep 2008
Location: Alvin
Feedback Rating: (2)
Posts: 5,493

Experience: 10+ years
Trackdays: 10+

Bike(s):
2016 R1
2001 Honda CBR929 RE
2005 Honda CBR600RR
2007 R6S






Quote:
Originally Posted by Timme' View Post
you guys are out of your mind... No offense :-)

My spousal unit is an attorney for JP Morgan Chase. Here is how this works:

1. Customer takes a loan to buy a car/bike/house/whatever.
2. Bank pays the seller and owns the title on the item. aka they are the lien holder (also known as the first lien holder).
3. Customer doesn't pay for the item at any time during the agreement.
4 Bank attempts to repo the item and sell it anyway possibe. If the item is worth more than what is owed (very rare) they send the customer a fat bill for the legal fees and suck the rest of the money until what is left goes back to customer.
5. If the item is a vehicle and a mechanic happens to have the vehicle. They have the right to put a "mechanics lien" on the item for work they have done. They become what is known as a second lien holder in our example. Bank still has first rights to the item, and any money from selling it, no matter what anyone has done to the item. They will almost always work with the mechanics to make this work out. But legally they have the right to the money when the item is sold. Otherwise no bank would ever every loan anyone any money to buy a automobile or motorycycle of any kind. How could they if anyone could put a lien and trump thier rights to collect the debt. This is also why title searches are done on items bank purchase, they want to ensure they can get the first lien on items they are loaing money for.

Anywho, just to let you know how this really works. Trust me when I say if the bank wants to press charges, file judgements, etc etc they will. Hence that long contract thing you sign when you borrow their money :-)


That is odd since I own three F-250's from doing this, mechanics lien supercede's any other lien due to the fact the vehicle is considered not of running value unless worked on thus the car is worthless. So the vehicle required a mechanic visit to gain its value to be sold from repo, auction, etc. Which is why the mechanic has rights.
No offense but your wrong.
__________________


Come here you little cake eating sieg heil .
ddgtomahawk is offline   Reply With Quote
Old 07-09-2010, 10:56 AM   #36
Timme'
Tim-Maaaay!
 
Timme''s Avatar
 
Join Date: Jun 2008
Location: Georgetown, TX
Feedback Rating: (0)
Posts: 448


Bike(s):
08 Triumph Daytona 675









Quote:
Originally Posted by ddgtomahawk View Post
That is odd since I own three F-250's from doing this, mechanics lien supercede's any other lien due to the fact the vehicle is considered not of running value unless worked on thus the car is worthless. So the vehicle required a mechanic visit to gain its value to be sold from repo, auction, etc. Which is why the mechanic has rights.
No offense but your wrong.
The bank allows you to do this actually but you don't have the ability to "superceede" the lien they have. What would be the point of putting a lien on something?

The bank has legal rights to the vehicle but they are not stupid they know the vehicle isn't worth anything if it isn't working so they "let" you fix it sell it and they right it off as a loss. The same thing happens when a vehicle is wrecked, the banks insurance will cover the lost in a lot of cases. In fact Mechanics lien are part of the property tax law so this gets even more complicated as you add in subcontractors to your business. Say you had a paint shop paint the vehicle you fixed. Are they entitled to a lien?

However, I would bet that in most cases these are not highly valuable automobiles. I am not sure but I bet Motorcyles fall into that category. A broken bike is worthless and paying their legal team to file judgements, etc would cost more than the bike itself.....

Simple fact is that the bank holds all the cards, but they are not going to just give someone a title to a vehicle that hasn't been paid for unless they are absolutely out of options and they feel it is worthless. Hence why you have probably gotten them to release the title on the cases you point out. They wrote it off and perhaps filed an insurance claim on the vehicle.

Read the law, it is very very clear on who has wrights to what... But if you feel lucky get a mechanics lien on something that's worth the banks time and money and see if they will give you the title :-)

http://library.findlaw.com/1998/Aug/1/126223.html
__________________
“I am so busy doing nothing... that the idea of doing anything - which as you know, always leads to something - cuts into the nothing and then forces me to have to drop everything.”

Last edited by Timme'; 07-09-2010 at 10:59 AM.
Timme' is offline   Reply With Quote
Old 07-09-2010, 11:04 AM   #37
Timme'
Tim-Maaaay!
 
Timme''s Avatar
 
Join Date: Jun 2008
Location: Georgetown, TX
Feedback Rating: (0)
Posts: 448


Bike(s):
08 Triumph Daytona 675









Here is the actual wording in the Texas Law that you are refering to (might be worth a read as it may save you some time and money in the future): http://law.onecle.com/texas/property/53.123.00.html

What this is saying that a mechanics lien has "preference" and you should get paid for the services that you provide. In the event that the service exceeds the value of the original lien the bank will likely just give you the title as opposed to paying you. However, if you work is less than the value of the vehicle they will most likely sell the vehicle, pay you your lien and be on their way. But you don't even have to tell them about the lien. However, you can't title the vehicle, that is not even a part of the Property Code law....
__________________
“I am so busy doing nothing... that the idea of doing anything - which as you know, always leads to something - cuts into the nothing and then forces me to have to drop everything.”

Last edited by Timme'; 07-09-2010 at 11:09 AM.
Timme' is offline   Reply With Quote
Old 07-09-2010, 11:09 AM   #38
ddgtomahawk
Write my name! \/
 
ddgtomahawk's Avatar
 
Join Date: Sep 2008
Location: Alvin
Feedback Rating: (2)
Posts: 5,493

Experience: 10+ years
Trackdays: 10+

Bike(s):
2016 R1
2001 Honda CBR929 RE
2005 Honda CBR600RR
2007 R6S






How does it not supercede? They either have to give me a title or pay the bill? They can't take it without doing one or the other.
__________________


Come here you little cake eating sieg heil .
ddgtomahawk is offline   Reply With Quote
Old 07-09-2010, 11:14 AM   #39
ddgtomahawk
Write my name! \/
 
ddgtomahawk's Avatar
 
Join Date: Sep 2008
Location: Alvin
Feedback Rating: (2)
Posts: 5,493

Experience: 10+ years
Trackdays: 10+

Bike(s):
2016 R1
2001 Honda CBR929 RE
2005 Honda CBR600RR
2007 R6S






Quote:
Originally Posted by Timme' View Post
Here is the actual wording in the Texas Law that you are refering to (might be worth a read as it may save you some time and money in the future): http://law.onecle.com/texas/property/53.123.00.html

What this is saying that a mechanics lien has "preference" and you should get paid for the services that you provide. In the event that the service exceeds the value of the original lien the bank will likely just give you the title as opposed to paying you. However, if you work is less than the value of the vehicle they will most likely sell the vehicle, pay you your lien and be on their way. But you don't even have to tell them about the lien. However, you can't title the vehicle, that is not even a part of the Property Code law....
So originally you stated the bank has all the power now you are stating the bank does have to pay me, now your telling me I can't title these vehicles. My friend 60 day wait and "poof" I have a title
__________________


Come here you little cake eating sieg heil .
ddgtomahawk is offline   Reply With Quote
Old 07-09-2010, 11:22 AM   #40
Timme'
Tim-Maaaay!
 
Timme''s Avatar
 
Join Date: Jun 2008
Location: Georgetown, TX
Feedback Rating: (0)
Posts: 448


Bike(s):
08 Triumph Daytona 675









I give up, there is no magic "poof" the bank GIVES you the title because the vehicle is not worth anything to them. It isn't worth the money it would cost to fight it.

But they can argue in court the validity of your lien aka making you pay a lawyer, they can argue paying you at all, they have allll of the cards. Call an attorney, I have one sitting right here that works for the bank and see what they tell you :-)
__________________
“I am so busy doing nothing... that the idea of doing anything - which as you know, always leads to something - cuts into the nothing and then forces me to have to drop everything.”
Timme' is offline   Reply With Quote
Reply


Thread Tools

Advertisement


All times are GMT -5. The time now is 11:02 AM.


MotoHouston.com is not responsible for the content posted by users.
Privacy Policy