I know someone wealthy who purchased a Harley Fatboy. He (Joseph) paid cash for the bike, I did some customizing for him and then he decided that he did'nt really want it. He sold me the bike for $21,000, I gave him $6000 down and we signed a 4 year payment contract which he drew up himself. End of november of 2005, I garaged the bike for winter (california) at my friends house where i was living. In mid January, I received a call from my friend stating that Joseph had just taken the Harley from the garage and that I was to call him. Joe stated he took the bike due to no insurance. It was covered under the homeowners policy where I lived but I went and got a years coverage anyway to get my bike back. Then he stated that I was behind on payments. He rechecked his records and he was wrong. Then Joe stated that he wanted the bike just paid in full, that he was going thru divorce and just tired of carrying the loan. He won't give me the bike, it's valued at $35,000 now. Help
2006-09-02 13:19:50 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Regarding the insurance, unless it was actually listed in your contract that you have to carry insurance on it, he can not make you "after the fact" carry it.
If you have been making payments on time, and you have fullfilled the contract, then he can not repo the bike.
As stated, he has now committed an illegal repo, and it could be charged as a grand larceny. That works in your favor as you don't have to deal with this as a civil suit, it's criminal. Just point that fact out to him and see how fast the bike gets returned.
Without researching the California laws, there is definate grounds for a civil suit as well, along with punitive damages.
2006-09-04 06:36:59 · answer #1 · answered by Anonymous · 1⤊ 0⤋
this man is totally out of oreder and is messing you about big time.
he signed a contract with you that stated you would pay him within 4 years on a loan basis. he had no right in the first place to take the bike away idoes he have something dto do with the insurance at the time he took it.
i would talk to him explain that a contracts a contract at the end of the day and you have kept to your end of the agreement by paying each month.
if he wont give the bike back your best to seek legal advice and see what can be done in your favour
2006-09-02 13:25:41 · answer #2 · answered by lisa7777 2 · 0⤊ 0⤋
Just my opinion and I am not a lawyer. Your friend cannot take the bike back. Just because it did not have insurance does not mean that the contract you signed is null and void. The bike should be registered to you, since you are the one responsible for it when riding it. Your friend is basically a lien holder, but registered to you.
According to the agreement, he agreed to allow you to pay monthly. Now, he cannot change or take that back, without a written addendum signed by both parties recognizing said change.
You might want to retain an attorney.....sounds like you are out a lot of cash or a nice bike. Who knows, to a layperson, sounds like theft to me. And considering value of bike, a felony.
2006-09-02 13:32:06 · answer #3 · answered by drpsholder 4 · 0⤊ 0⤋
I hate to say this.... you need the help of a (yuk) lawyer. Bring him any paperwork you and the owner signed relating to the bike deal when you go. You are in a royal mess, dude and the cost of a decent lawyer will be money well spent at this point. It could be since 'Joe' didn't own the bike then it really wasn't his to sell. I would suggest you try to recover any money you spent on this (idiotic) deal and chalk it up to a learning experience.
2006-09-02 13:28:07 · answer #4 · answered by Anonymous · 0⤊ 0⤋
study the notice! Your risk-free practices is there. If the homestead has long gone down in fee, then get your deposit back, alongside with you earnings case you could. What you will possibly desire to have is a "settlement of sale" or a land settlement as adversarial to a supply deed which might require foreclosure technique. Spent 30 minutes for a loose consultation with a solid RE lawyer, at as quickly as!
2016-11-06 07:38:35 · answer #5 · answered by ? 4 · 0⤊ 0⤋
It's grand theft. No, he cannot cancel the contract. A contract is an agreement between two parties, not the will of one. Contact the police immediately and tell you have done so.
2006-09-02 16:19:59 · answer #6 · answered by misslabeled 7 · 0⤊ 0⤋
You need an attorney. This guy is definitely out to screw you if possible...
2006-09-02 13:25:47 · answer #7 · answered by clarity 7 · 0⤊ 0⤋