Buying Advice Nasty Divorce Forces Tractor Sale

[JDdude]

One miss hit of of two keys at once caused all of this crap..You guys need to get out more.

A wise man needs no advise and a fool will not take it..

 

[RoyJackson]

As long as you're happy with the tractor, I'd buy it...but not with the terms described.
Go to your bank and borrow the money...make a clean sweep of the sale and get a signed (preferably notarized) bill-of-sale. That should keep you out of the divorce fracas.

And I'll stay out of the fracas this thread is becoming...

 

[two_bit_score]

As long as you're happy with the tractor, I'd buy it...but not with the terms described.
Go to your bank and borrow the money...make a clean sweep of the sale and get a signed (preferably notarized) bill-of-sale. That should keep you out of the divorce fracas.

And I'll stay out of the fracas this thread is becoming...

People buy stuff all the time from people getting divorced who have to liquidate things. I can't see how the purchaser could be at risk of having the spouse come back against him and force a sale and split of the proceeds. Her action would be limited to her ex. Especially if your advice was followed.

 

[RoyJackson]

People buy stuff all the time from people getting divorced who have to liquidate things. I can't see how the purchaser could be at risk of having the spouse come back against him and force a sale and split of the proceeds. Her action would be limited to her ex. Especially if your advice was followed.

Problem could be in "community property". As long as the seller has an interest in the tractor (the lien), the buyer could be at risk...especially if things get messy.
I, personally, wouldn't want to be involved in that situation in any way...hence the bank loan and total payoff suggestion.

 

[JB4310]

I'd be tempted to take those terms, but Roy brings up a legitamate concern.
After all this is a "nasty" divorce we've been told.

All's some judge has to do is sign a paper that says sale was not allowed or below fair market and could open a can of worms. probably wouldn't happen but it is something to think about.

JB

 

[creekbend]

My apologies to all for such a rotten start to participation in this forum. I've been reading the forum for a long time and have found it helpful in answering many questions. Wish I could erase and start over leaving out the smart remarks.

"Every saint has a past, every sinner has a future."

re:K9American Here's hoping that everything works out for you. Our love for Tractors--all of us--is the cohesion that binds us together on this website. Happy Tractoring.

 

[Fixemall]

Problem could be in "community property". As long as the seller has an interest in the tractor (the lien), the buyer could be at risk...especially if things get messy.
I, personally, wouldn't want to be involved in that situation in any way...hence the bank loan and total payoff suggestion.

Good advice! Folks do odd things during times of high emotional stress, things may change in six months and "terms" loosely negotiated may become unacceptable in the future. Here in NY, a tractor is considered a tangible asset due to the VIN #, therefore the ex may have a claim to it, only way I could see a proper sale being made would be if it was outlined in a legal binding property settlement agreement that was signed by a judge.

 

[JDGreenGrass]

I am some what appauled that people have jumped right into the personal stuff. Who gives a crap who ends up with the money., he or she or both.

Not all deals involving friends turns pouty messy. I assume the poster is an adult and he can make choices for himself. IF he makes a mistake he will learn from it.

To me, it simply sounds like a good price for a good tractor.

Why make it messy before it's messy.?? People......

 

[Travelover]

I am some what appauled that people have jumped right into the personal stuff. Who gives a crap who ends up with the money., he or she or both.............

The issue is ownership. If you buy an item from a person that does not fully own it, you have a legal problem.

It is common in divorces to have contested ownership of property and I think that most of the posters just wanted to warn the OP to be cautious.

 

[LD1]

I am some what appauled that people have jumped right into the personal stuff. Who gives a crap who ends up with the money., he or she or both.

Not all deals involving friends turns pouty messy. I assume the poster is an adult and he can make choices for himself. IF he makes a mistake he will learn from it.

To me, it simply sounds like a good price for a good tractor.

Why make it messy before it's messy.?? People......

The issue is ownership. If you buy an item from a person that does not fully own it, you have a legal problem.

It is common in divorces to have contested ownership of property and I think that most of the posters just wanted to warn the OP to be cautious.

Travelover hit the nail on the head here.

That is the only reason we were questioning the personal stuff. Because IF his friend doesnt own the tractor 100% He cant legally sell it.

AND the fact that the OP was asking about this guys payment plan of $300 until paid for...well, that is a lein. And that means that UNTIL he has reached the obligation of 10k (ie: payoff) the tractor still belongs to his friend. And if the wife/ex-wife is still part owner (contested ownership), she can force a sale of the tractor, thus the OP will be out however many $300 payments he has made.

We are simply trying to advise him of the potential problems.

This is an internet forum full of excellent advice...most times. What if everyone here had your attitude JDgreengrass????

I assume the poster is an adult and he can make choices for himself. IF he makes a mistake he will learn from it.