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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I have bought a car with a logbook loan attatched to it.

Resolved Question:

Hi. I have bought a car with a logbook loan attatched to it. The loan was taken out by the person i bought the car from. Varrooma who hold the bill of sale have told me the loan was taken out with a fake driving liecence and the only address they have is a virtual address in london. Does the bill of sale still stand in this case
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you with this.Do you have the persons details whom you bought it off?Alex
Customer: replied 1 year ago.
Hi. I have the same details as varroma. The name and address on the logbook but his address does not exist and he is down as sir steven george gabrael .he is not a sir. The address is a dropbox
Expert:  Ash replied 1 year ago.
Thanks. It's bad news I am afraid. The loan is still valid. This is because it is secured on the vehicle. The person who sells the vehicle must have good title in order to sell it. This person did not as could not be truly the owner. As such I am sorry to say that title can not be passed to you because of the loan secured on it.
Just because the borrower used a fake driving licence does not mean that the creditor has an invalid loan, they do.
I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest. Can I clarify anything for you about this today please? Alex
Customer: replied 1 year ago.
In that case cannot the same be said about the owner passing the title on to the loan company in the first instance
Customer: replied 1 year ago.
The loan is set up on the bill of sales act. The bill of sales is a court stamped document. If the details on the document are not correct and should have been checked surley this document cannot stand in the eyes of the court
Expert:  Ash replied 1 year ago.
Yes I understand how log book loans are set up.The company has a loan on the CAR. Even if that person gave a false address. It wont invalidate the loan unless you are saying the person that took out the loan did not own the car.The seller did not have title. Therefore you do not OWN the carAs I said I am very sorry but in reality you cant get the loan written off on the car.Can I clarify anything else for you? Alex
Customer: replied 1 year ago.
No i think that is all i need to know. Thanks for your help.
Expert:  Ash replied 1 year ago.
Sorry its not better news. If I could invite you to rate my answer before you go today please, otherwise the site does not credit me for the time spent with you today. Thanks and good luck. Alex
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