Buying Advice Buying used.. is there a lien on it ?

[90tcom]

Looking at buying a late model used tractor, how can I tell if the seller has a lien against it ? Is it up to me to be 100% sure or is it the seller' responsibility to have it paid for ?

[smstonypoint]

This issue has been raised in several threads. Here's one: http://www.tractorbynet.com/forums/b...eck-liens.html

Steve

[Soundguy]

HARD CALL.

If it's an old tractor, not many people will loan against them.. however I have seen cases where farm bureau will.. I've also seen general leins that lein all a persons property due to non payment of a debt.

again.. hard call.

if I bought anything of any real value used, I'd want a bill of sale that states it's being sold clear of any leins.. may or may not help...

soundguy

[blueriver]

Check the UCC filings and as stated in the bill of sale ...

"Seller hereby warrants that he has the full right to sell, trade or bargain clear and free of any and all liens or encumbrances and warrants clear and marketable transfer of ownership."

[KU Gator]

If by late model, you mean within the last 5 years or so, if it was financed, it would have probably been financed through the manufacturer's finance arm. All of the tractor companies have offered 0% financing for several years, so someone might have gotten other financing to get the cash discount, but that would probably be relatively few cases. I just finished paying off mine through Kubota credit and they sent me a copy of the original loan agreement marked paid in full. Examining something like that document plus the statement on the bill of sale as suggested above would make me feel reasonably secure.

[bp fick]

Check the UCC filings and as stated in the bill of sale ...

"Seller hereby warrants that he has the full right to sell, trade or bargain clear and free of any and all liens or encumbrances and warrants clear and marketable transfer of ownership."

X2. Check the UCC. Do not take the seller's word the lien has been cleared. With modern online banking, scanning, faxing, etc, all this stuff can be cleared up and dealt with immediately. Just take care of business.

People buy and sell tractors, boats, trucks and cars every day, get the liens cleared, exchange hand shakes and go on with their lives.

[blueriver]

Also most states(if not all) have the UCC filings available online ... if your state does just register and enter the persons name and a list will come up with the description, SN# and the lien holders info. Even tractor finance companies file a UCC when they finance.

[murphy1244]

Can you put a lien on something that can't be titled???

[bp fick]

Can you put a lien on something that can't be titled???

Yup, they sure do. Absolutely. That's pretty much the purpose of the UCC.

[murphy1244]

Yup, they sure do. Absolutely. That's pretty much the purpose of the UCC.

I mean that sure would be hard to track down.. So i could put a lien on a guitar or whatever..Don't make cents to me.