Buying Advice do I need a title or bill of sale??

[JDRandyC]

I am about to buy my first used tractor. What do I need to get from the seller? Do tractors have titles or do I just get a bill of sale.

Something I thought about, how do you know that the person selling the tractor has ownership of the tractor. This guy bought the tractor new so I could probably get his original bill of sale from lhe dealer But what I am worried about is how do you know that there are no liens or how do you know he doesn;t owe the bank money on the tractor, etc.

How do I protect myself in this transaction?

Thanks

 

[grnspot110]

There are no "titles", but a bill of sale isn't a bad idea!

 

[TripleR]

A bill of sale is always a good idea, but it won't keep you from losing your money if he has used his tractor as collateral on a loan. I have seen this happen, but it has been extremely rare and if he disposes of property in this manner, it will in all likelihood be a felony.

 

[sweettractors]

I am about to buy my first used tractor. What do I need to get from the seller? Do tractors have titles or do I just get a bill of sale.

Something I thought about, how do you know that the person selling the tractor has ownership of the tractor. This guy bought the tractor new so I could probably get his original bill of sale from lhe dealer But what I am worried about is how do you know that there are no liens or how do you know he doesn;t owe the bank money on the tractor, etc.

How do I protect myself in this transaction?

Thanks

We stamp all our checks for purchases of used whole goods with: By cashing or depositing this check, the seller warrants this implement or tractor to be free of any liens etc........ This at least keeps us from Knowingly receiving stolen property. Ken Sweet

 

[ModMech]

I'm no laywer, but our ducuments drawn by a lawyer say things like:

"Seller and sellers heirs shall forever defend and hold harmless the buyer and buyers heirs for any and all claims against the PROPERTY transferred herein regardless of claim."

Of course, there was a section for exceptions, but it was listed as " - NONE - ".

 

[abeal]

A quick call to Kubota Credit or JD Finance, or who ever the manufacturer is, should probably clear up any lien questions. If it is financed through a bank, that might be a little tougher, but also not as likely to stay at the dealership if you bring it in for service as they are not likely to be able to flag a SN in the dealership database.

 

[TripleR]

My wife use to work for USDA and equipment is often used as collateral on a loan, so tracking down all possible sources of encumbrance can be difficult.

All a person can do is the best they can and if the deal doesn't feel right, don't do it. In my experience, it is extremely rare that there is a problem.

 

[flusher]

I am about to buy my first used tractor. What do I need to get from the seller? Do tractors have titles or do I just get a bill of sale.

Something I thought about, how do you know that the person selling the tractor has ownership of the tractor. This guy bought the tractor new so I could probably get his original bill of sale from lhe dealer But what I am worried about is how do you know that there are no liens or how do you know he doesn;t owe the bank money on the tractor, etc.

How do I protect myself in this transaction?

Thanks

I've used this form to buy several used tractors during the past 4 years:

BILL OF SALE

I,_______________________________________ (Seller), in the County of_________________, State of________, in consideration of ____________________________________________Dollars, ($__________), to be paid by _ (Buyer), the receipt of which is hereby acknowledged, do hereby grant, sell, transfer and deliver unto_______________________ (Buyer) the following:

[Description] _______________________________________________
_______________________________________________

To have and to hold the same to Buyer and his heirs, executors, administrators, trustees, successors and assign, to their use forever.

And I hereby covenant with the Buyer 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.

Seller agrees to safeguard the property described above until Buyer can arrange for transportation. Buyer agrees to transport the property within _____ days from the date of this transaction.In witness, whereof, I_____________________________________ (Seller), hereunto set my hand, this ___day _____________ 20__.

CA Drivers Licence: Buyer ________________ Seller___________________

No problems so far.
Good luck with your tractor buying experience.

 

[sweettractors]

I am about to buy my first used tractor. What do I need to get from the seller? Do tractors have titles or do I just get a bill of sale.

Something I thought about, how do you know that the person selling the tractor has ownership of the tractor. This guy bought the tractor new so I could probably get his original bill of sale from lhe dealer But what I am worried about is how do you know that there are no liens or how do you know he doesn;t owe the bank money on the tractor, etc.

How do I protect myself in this transaction?

Thanks

A call to the court house where the seller lives will let you know if there is a lien on a item with your description or serial #. I know they are not suppose to give out that type info, however, usually they will. Ken Sweet

 

[buck12]

I've used this form to buy several used tractors during the past 4 years:

BILL OF SALE

I,_______________________________________ (Seller), in the County of_________________, State of________, in consideration of ____________________________________________Dollars, ($__________), to be paid by _ (Buyer), the receipt of which is hereby acknowledged, do hereby grant, sell, transfer and deliver unto_______________________ (Buyer) the following:

[Description] _______________________________________________
_______________________________________________

To have and to hold the same to Buyer and his heirs, executors, administrators, trustees, successors and assign, to their use forever.

And I hereby covenant with the Buyer 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.

Seller agrees to safeguard the property described above until Buyer can arrange for transportation. Buyer agrees to transport the property within _____ days from the date of this transaction.In witness, whereof, I_____________________________________ (Seller), hereunto set my hand, this ___day _____________ 20__.

CA Drivers Licence: Buyer ________________ Seller___________________

No problems so far.
Good luck with your tractor buying experience.

I used a very similar form on the advice of a banker friend when I bought my tractor. To the OP make sure to include serial numbers for tractor, FEL, and any implements.