CamperWill
Massachusetts
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Okay so I'm just looking for input from experienced people that have dealt with camper sales/titles and liens.
Last year we purchased a popup and are currently in the process of selling it. We purchased it with a loan, so it does have an existing lien.
We have a buyer that will be paying cash and wants to get it quickly as they have a trip coming up. Once the cash is deposited I will be sending the lien holder(bank in another state) a bank check that same day to payoff the loan and clear the lien.
Now MA laws(where we and the buyer reside) say trailers do not need a title if 3000 lbs or less, ours happens to be registered as a trailer with a weight of 3000 lbs.
Will the buyer be able to register it before the loan is paid off? From my understanding clearing any liens could take a while and they are looking to get it by the end of this weekend.
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donn0128
Pronounced Ore-gun
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Best to call your local DMV office and ask them. I suspect that they will not be able to do anything until the buyer has the title in their hand. They they will be able to transfer title and registration into their name.
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Old-Biscuit
Across the USA
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Use your bank service.........
Check with bank manager at YOUR bank and see if everything can be handled thru them via electronic bank funds transfer.....then certified FAX of Lien Release.
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JALLEN4
Florida
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For this very reason,every state I am aware of will issue a temporary tag, usually for thirty days and will cost around ten dollars.
Trusting buyer who will give you a cash equivalent and trust you to use it to pay off the loan.
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adamroof
Camarillo, CA
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Just sold TT about a month ago, fortunately it was financed at a local credit union, and they had the title at the branch. Buyer came with me, bank verified his cashier check from BofA (i thot those were PRE verified, but i guess not), paid off the loan, deposited remainder in my savings share, and then they came up front with the title and handed it to him.
We then went to AAA together and he had to pay the taxes on the sale and registration and they made sure we had all the right lines signed. Still took about 2 hours total to make it happen.
I was worried like you were about titling and buyer registration, but it went smooth. Since its out of state bank I dont think you have any option.
I sold a motorcycle with a Capital One lien, but i had to pay it off first with my own money to get the title on a promise he'd come back with cash, but it took about 5 days to get title mailed from Capital One after payoff.
If buyer is willing to wait, just get a bill of sale and signed agreements so you can at least go to court if needed. I found even the credit union wasnt helpful over the phone with information.
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gorjo01
Eastern Ontario
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I bought a fifthwheel from people in Mass. The trailer had a lien on it. Once I gave the guy the check, it took 1 month for the title to arrive from the bank.
I was not a happy camper.
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adamroof
Camarillo, CA
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JALLEN4 wrote:Trusting buyer who will give you a cash equivalent and trust you to use it to pay off the loan. Yea, its not just protecting you, its protecting them if u dont use the cash to pay it off. Just try to think if Judge Judy would rule in your favor. Have signed documents and witnesses.
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CamperWill
Massachusetts
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Thanks for the information.
My bank is sending an electronic check to the loan company tomorrow. They said they can have the lien release sent over the next day, but unfortunately that wouldn't give the buyer time to register it.
Quote:I bought a fifthwheel from people in Mass. The trailer had a lien on it. Once I gave the guy the check, it took 1 month for the title to arrive from the bank.
Unfortunately banks and the RMV take their time with the titles. But a trailer/camper under 3000 lbs does not require a title to register in MA.
My question is can the buyer register it when there is an existing lien, the buyer will have a bill of sale and current registration.. for some reason the RMV is not able to give me a solid answer to this question
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JcoFS3500
East Central OK
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I don't know about Mass. but I doubt that the trailer can be re-registered until the lien is cleared. Again, don't know about Mass. but OK gives you 30 days to register a vehicle so I wouldn't have a problem taking a trailer camping without having registered it as long as I had a bill of sale and receipt from the seller and had let my insurance agent know the trailer VIN (if they plan to insure it) and then deal with the registration next week or whenever the lien is released. As a seller, I wouldn't have a problem letting the trailer go as long as the buyer signed the bill of sale and I had payment in full.
Just my personal opinion.
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Parrothead Mike
SW Michigan
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I worked for Michigan's version of the DMV for about 33 years, but am now retired. Most of the previous posters have it about right in regard to the new owner not being able to re-register it in his name without the lien being cleared and proof of ownership transfer.
One option you have is letting the buyer take/use the trailer, after he pays you of course, with your plate on it. This allows them the opportunity to do whatever camping they were planning. In the meantime you work with the lienholder to clear the lien. Word of caution here: Be sure someone has the trailer insured in case there is an accident or damage to the trailer.
The real question I have is whether the bank is actually holding a title to your camper. This is information you should either know or be aware of. Possibly your original dealer can tell you whether they applied for a title in your name or not. You should have some paperwork from the dealer when you purchased it that may indicate whether they applied for a title (you would have had to pay for the processing). The fact that there is a 3,000 lb limit on titling is in question since your camper is listed right at 3,000 lbs.
If you have need of your plate right away (to transfer to another trailer) you could possibly go to your DMV and purchase a temp registration/permit so that the buyer could take your camper on their outing. Some states allow the owner of a plate to transfer it to another camper/trailer -- some don't.
One other possibility, as already mentioned, is to take the new buyer with you directly to the lending institution where your loan is and make the lien closing and sign over ownership at that point. It may be inconvenient to do it this way, but it solves some of your concerns. Make sure the lending institution has your title first. In fact, call the bank and ask them if they have a title for you just to find out what it is you have as proof of ownership.
Michigan always did this title thing so much easier than many states. The owner of a vehicle/trailer keeps their own title whether it has a lien on it or not. You still need a discharge of lien before selling it, but the lending institutions don't hold on to your documents.
Good luck.
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