On looking over the title that was signed over to me.. on the lower portion there is a part that says "One Lien Recorded".  Should I be worried about that?  The seller didn't say anything about it, he just signed it over to me.  It's a NY title.

Call the Dept of Motor Vehicles and ask them? 

Hmm.. touche.  I should start thinking before posting.

Yes, it is something to be concerned about. I would get back in touch with the seller and ask about the situation, find out the amount of the lien. Did the seller claim to have a free and clear title to the bike when he sold it to you?

I didn't really ask, to be honest.  I don't really understand what a lien is.

Quote from: Altephor on July 05, 2006, 12:03:09 PM
I didn't really ask, to be honest.  I don't really understand what a lien is.

A lien means someone else owns part of the bike (i.e., money is still owed on the bike)... At least, that's my understanding. Definitely call up the DMV.. and as for thinking before posting.. don't worry about it.. I refuse to think at all, much less before I post!

If there was still a lien on the title the seller wouldnt have it, the lending institution would.

Ah.  Ok so I should have nothing to worry about because he had it.  I e-mailed him just to be sure.  Now if my gear would just arrive so I could go and register!  Apparantly at newenough.com, same day shipping means we'll ship 5 days after you place an order    .

Quote from: ajgs500 on July 05, 2006, 12:17:44 PM
If there was still a lien on the title the seller wouldnt have it, the lending institution would.

thats not really true... you do get a copy of the title (at least I do for my car), but it says there is a lein holder, much like what he has.  When you pay off the lein, you get a stamp or something saying that lein is clear.  The PO may very well have paid off the lein holder, but never got around to having the title updated.  I would go to the DMV and ask them, you have to anyway to get it registered so you can drive it on the street.

When I bought my car at the dealer they gave me an application for title form to present to the BMV, basically just a piece of paper that told the BMV who had the title ie the lending company.  The BMV kept that paper and and all I have now is the bill of sale and the registration.  Now the bike, on the otherhand, I have title in my possession since there is not a lien on it.

Quote from: Altephor on July 05, 2006, 11:58:18 AM
Hmm.. touche.  I should start thinking before posting.

I wasn't baggin' on ya'. They were just the first agency I could think of that might be able to give you the fastest info. Let us know what ya' find out. 

ummm BMV= slow and inept

ok...replace quickest with "most accurate".....

wait....*sigh*....

Ok..they *might* be able to give SOMETHING *close* to what *might* be the problem sometime this century.... 

yeah idk I did think it was wierd the dmv sent me the title for my car even though it had a lien on it... maybe it's a state by state thing   (this was in NY, and we all know NY is ass backwards)

in some states, titles go to the lein-holder.  in others, they do NOT, they go to the buyer with a lein indicated on the title.  Check your state laws about this detail.

Edit:  at least I think this is true.  I'm pretty sure that I had a title once that indicated the lean.  Can't remember if it was VA or MD.  Your best bet still is to check it out with your DMV.

Just wondering . . wouldn't the previous owner be responsible for paying off the lien?  Unless a contract was signed saying that Altepor would finish paying it off? 

I know in Ga you don't get the titile till it's paid off bike or car.  And that you cannot sell a car with a lien without a contract stateing it has a lien and that the purchaseer agree's to finish paying it off.  Otherwise the purchaseer can sue ( spelling? ) the seller.

Well that's essentially what I'm worried about.  That I could be getting screwed.

The lien says

Household; Retail Services
PO Box 4145
Carol Stream, IL 60197


I'm getting a little nervous because I tried looking them up on line and get a lot of hits for scandals.

if your title has a lien on the title, and you don't have any proof it was paid off, sounds like you got screwed.  id definetly go back to the seller an see whats up

HSBC is the lean holder, that is who does the finacing for suk shops and others. here is a nummber

1 847 564 5000
that is the main office