Recognizing stolen equipment ???

[Fuddy1952]

This is a great topic of discussion and actually on a similar note a property owner/homeowner can have something built, remodeled, etc. and the supplier can charge the homeowner IF the contractor doesn't pay them for the material!
So the tractor may or may not be stolen but not paid for!!!!!

 

[nards444]

My good friend's son in law bought a John Deere cab tractor and got a very, very good deal on it. It was a monster unit. Anyway, after owning it for a few months, he gets a letter from John Deere Credit stating the tractor is going to be repossessed for nonpayment of note. Seems the original owner didn't pay off the lien when he sold it. So this poor son in law is in a mess. The seller claims it's all just a mistake (and the buyer's money has been spent) and JD Credit is threatening legal action. An UCC lien check would have noted a lien on the tractor, but only financial institutions can run a check and don't like running it for some nut wanting to buy a tractor. It is still playing out, but it looks like the son in law is going to lose the tractor and will have to take legal action against the seller who is now broke. He will be out thousands before hiring an attorney. Even if the kid had run a lien check it naturally would have shown a lien as part or all of the purchase price would go to pay off the lien AFTER the sale. I'm not sure how the buyer could have protected himself.

You really cant protect yourself 100% just no way. You check DMVs for things, check certain banks, dealers etc. But you never know whats out there. Pretty much why I have gone to the point of big stuff i buy new, no more dealing with other peoples problems.

 

[Steppenwolfe]

This is where financial/consumer protection laws need to be changed. Companies should only be able to go after the original customer they had/have the sales contract with.

Doesn't work that way. It's a buyer beware world. One needs to do their due diligence and protect themselves. Not the companies fault.

 

[Steppenwolfe]

This is a great topic of discussion and actually on a similar note a property owner/homeowner can have something built, remodeled, etc. and the supplier can charge the homeowner IF the contractor doesn't pay them for the material!
So the tractor may or may not be stolen but not paid for!!!!!

Very good point. As a General Contractor I can tell you we document every payment to a sub contractor and get a notarized lien waiver from them, and most of the time even from their suppliers. Too many crooks out there these days.

 

[nards444]

This is where financial/consumer protection laws need to be changed. Companies should only be able to go after the original customer they had/have the sales contract with.

Tend to agree on the face of it but when you look further dont know if I agree. First off most states are buyers beware states for used items, to hard for the state or local government to police every side transaction dont matter how bad somebody gets screwed, second do you want the state in your business even further. Next a bad actor sells something like the tractor in this story, somebody may take a loss why should the company? End of the day the guy in this story didnt have the right to sell the tractor without paying off his note first, the company has the right to obtain their goods or product.

 

[Industrial Toys]

Is the person you are dealing with willing to let you take a picture of their drivers license? I would have no issue, if I was selling a big ticket item.

 

[Fuddy1952]

If you put yourself in the owner's place...your $30,000 tractor gets stolen then found. You just want it back. Whoever lost money is no concern.
The way the law SHOULD be is the thieve(s) get 10 years, made to pay restitution to the buyer, police, court system, and pay you the owner (damages, your time, etc.).
Make stealing not worth it. I may have mentioned here about landscaper friend who's one equipment trailer was cleaned out. Even with insurance he lost $thousands, not counting his time, and thieves were caught slapped on wrist.

 

[Industrial Toys]

Sounds like my kind of country, but nothing liberal minded people and politicians would be interested in. Throw in a lashing or two as well! A day!

 

[Shaneard]

If you put yourself in the owner's place...your $30,000 tractor gets stolen then found. You just want it back. Whoever lost money is no concern.
The way the law SHOULD be is the thieve(s) get 10 years, made to pay restitution to the buyer, police, court system, and pay you the owner (damages, your time, etc.).
Make stealing not worth it. I may have mentioned here about landscaper friend who's one equipment trailer was cleaned out. Even with insurance he lost $thousands, not counting his time, and thieves were caught slapped on wrist.

The problem with your solution here, the thief will (probably) never be able to pay the restitution back. What happens if they don't? Put them in jail, we the tax payers continue to pay for their food, housing, and medical expenses.

 

[Industrial Toys]

No doubt, any administration and facilities would cost more than could ever be recovered. We do however, spend money on far more wasteful things. They say that threat of punishment does not deter crime, but I say, let's try it anyway and see. Not talking internet and TV, but punishment. And then of course you do end up with people that can never probably reintegrate with society.