Completing purchase transaction question

[hondarider]

I was told that there is no title when purchasing tractors?
How do I know that it's not stolen or something?

How do I prove that I own it if the current owner doesn't even have a title.
How do I protect myself?

 

[irvingj]

Are you buying a used tractor? What I do with my old motorcycles (yes, mostly Hondas) is type up a bill of sale for seller & buyer to both sign- list serial number, date, mileage/hours, price paid, etc.

I bet there's a site on the wb that would have "standardized" forms. You might also check with your state's (?) motor vehicle dept to see what they require. Sometimes regular police officers will know this as well.

In NH, if a vehicle is beyond a certain age, no title is required, so a bill of sale is about all you'll get.

 

[MarkV]

Bill of sale is pretty much all you will get on a new tractor also. Depending on the age and brand of tractor some of the manufactures keep a data base of history that will include thefts that are reported to them. Law enforcement also has data bases if you are concerned that you may be purchasing a stolen tractor.

MarkV

 

[dfkrug]

How do I know that it's not stolen or something?

That's the million dollar question.

Since there is no title, here is what I do:

Get the seller to provide all known history of the unit. Not just where the
tractor was purchased, but where it was serviced. Then call that dealer.
They will usually be happy to give you all known history based on the unit's
serial #. As mentioned, some manufacturers also have stolen tractor
databases. If never serviced at a dealer, get what info you can and make
a few calls.

Don't make the buy on the first visit. Get the ser# and do a little research
before you buy. Any legitimate seller should be happy to provide any
history info.

Caveat emptor. If you are an innocent buyer of a stolen unit, and it is
discovered, you will lose it.

 

[flusher]

I was told that there is no title when purchasing tractors?
How do I know that it's not stolen or something?

How do I prove that I own it if the current owner doesn't even have a title.
How do I protect myself?

All you can do is draft a bill of sale with language that gives you the protections you want or need.

Here's one I've used

BILL OF SALE
I,__________ [Seller's name] , in the County of_________________, State of________, in consideration of ________________Dollars, ($__________), to be paid by ____ _______________[method of payment], the receipt of which is hereby acknowledged, do hereby grant, sell, transfer and deliver unto ______________________ [Buyer's name] the following: _______________________________________________ _______________________________________________ [Description]

To have and to hold the same to____________ [Buyer's name] and his heirs, executors, administrators, successors and assign, to their use forever. And I hereby covenant with the grantee that I am the lawful owner of said goods; That they are free from all encumbrances; That I have good right to sell the same as aforesaid; And that I will warrant and defend the same against the lawful claims and demands of all persons.

In witness, whereof,

I__________________ [Seller's signature], hereunto set my hand, this ___ day of_______________20__.



Bring your digicam. Photograph the tractor, the Seller and the Seller's driver's license. Be sure that the camera puts the correct date and time on the images.

 

[psj12]

Most people would keep records of transactions for something as expensive as a tractor. Ask the present owner to provide you with copies of his receipts and other paperwork from when he bought it.

 

[woodchuckcanuck]

BILL OF SALE
I,__________ [Seller's name] , in the County of_________________, State of________, in consideration of ________________Dollars, ($__________), to be paid by ____ _______________[method of payment], the receipt of which is hereby acknowledged, do hereby grant, sell, transfer and deliver unto ______________________ [Buyer's name] the following: _______________________________________________ _______________________________________________ [Description]

To have and to hold the same to____________ [Buyer's name] and his heirs, executors, administrators, successors and assign, to their use forever. And I hereby covenant with the grantee that I am the lawful owner of said goods; That they are free from all encumbrances; That I have good right to sell the same as aforesaid; And that I will warrant and defend the same against the lawful claims and demands of all persons.

In witness, whereof,

I__________________ [Seller's signature], hereunto set my hand, this ___ day of_______________20__.

HEY...that looks like my marriage license.