It's called an "open title"....


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Posted by Hank [64.119.43.114] on Saturday, May 01, 2010 at 17:18:00 :

In Reply to: Title question ebay w300 truck posted by JustSaying [75.233.215.153] on Thursday, April 29, 2010 at 18:18:17 :

... when the owner signs, but no buyer is written in. Very common out there in TV land, as it allows the title to change hands multiple time without further paperwork. Sometimes runs afoul of time requirements for obtaining a new title in some states. But there is another more sinster seldom encoutered problem:

The original owner sells the truck, and signs the back of the title. The new owner never registers the truck. The original owner can obtain a duplicate title and transfer it again. If that subsequent transferee submits the title to a MVD and gets a new title, then it's his truck.

I actually had a case where this happened on an old Camaro. Not going to be very common, because only one person can have the car at one time, and nobody is going to pay for a car they don't have.

H



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