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#1
12-11-2009, 07:53 PM
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Re: Man Reunited with Stolen Corvette After 39 Yrs
the car was bought by my neighbor from a dealer in CA in June of 2009
the previous owner had it titled and registered in CA for the last 19 years it was "totaled" in a garage fire 10 years ago it was rebuilt it is a 65 FI convertible the dealer that sold it to my neighbor "jumped" the title the court hearings started in early November my neighbor was out the $65k until it was awarded last week and he DID get a check from his insurance company ... way back when it was stolen, the owner let his insurance lapse supposedly he was never compensated, that is why he got it back the car WAS recovered in Chicago in 1970 and sold at a sheriff's auction WHY they never bothered to contact neighboring states about it is hard to say ... there is a lot of murky facts surrounding that aspect of this car my neighbor has been through the wringer on this as he did nothing wrong the NICB report did NOT have it listed, only the fire "total" CA was fine with the car, title, etc IF the buyer of the car lived in CA and re-registered it there, it would have still been there ... it had a good CA title and was still registered there the scary part is that a car CAN be registered and have a good paper and even for 19 years without anything happening bottom line is beware when buying cars, even those with good paper ... oh, the 12k miles are pure BS, maybe 12k from the restoration, but the car was not a "survivor" in any stretch of the imagination
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Jim R Scottsdale, AZ 
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#2
12-12-2009, 12:29 AM
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Re: Man Reunited with Stolen Corvette After 39 Yrs
[ QUOTE ]
the car was bought by my neighbor from a dealer in CA in June of 2009 the previous owner had it titled and registered in CA for the last 19 years it was "totaled" in a garage fire 10 years ago it was rebuilt it is a 65 FI convertible the dealer that sold it to my neighbor "jumped" the title It is impossible for a dealer to "jump" title. Dealers don't put titles in there name, that is why titles have an area for dealer reassignment. It lets the DMV know where the car was between the guy that traded it and the new buyer when it is titled in his name. Now the previous owner that had it when sold to the dealer MAY have jumped title, but that is of no concern to the dealer as long as the guy selling it has a legal bill of sale and the title is signed by the owner of record on the title and itr is notorized if required. When you buy a car from a dealer if you were able to do a title search you would only see the previous owner. If you had deeper access to DMV records it would show the dealer that sold it between you and that other owner, but you would already know who YOU bought it from. the court hearings started in early November my neighbor was out the $65k until it was awarded last week and he DID get a check from his insurance company ... My GUESS would be that HIS insurance company will be looking to the dealer for reembursment. way back when it was stolen, the owner let his insurance lapse supposedly he was never compensated, that is why he got it back the car WAS recovered in Chicago in 1970 and sold at a sheriff's auction WHY they never bothered to contact neighboring states about it is hard to say ... there is a lot of murky facts surrounding that aspect of this car This is the "hole" in the system that was discuss in another thread here recently. There apparently is no sharing of information of stolen cars between the NCIB and the state DMVs. There should be a database with all stolen cars V.I.N. that could be cross checked everytime a title changes hands and it would remedy all of this. my neighbor has been through the wringer on this as he did nothing wrong the NICB report did NOT have it listed, only the fire "total" CA was fine with the car, title, etc IF the buyer of the car lived in CA and re-registered it there, it would have still been there ... it had a good CA title and was still registered there the scary part is that a car CAN be registered and have a good paper and even for 19 years without anything happening bottom line is beware when buying cars, even those with good paper ... EXACTLY. When you are dealing with an old car unless you have a history chain back to the original owner your are well advised to make two phone calls. One to the DMV office you plan to title it in, and the other to the NCIB. The same question for both, "has this car ever been reported stolen?" oh, the 12k miles are pure BS, maybe 12k from the restoration, but the car was not a "survivor" in any stretch of the imagination [/ QUOTE ]
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#3
12-12-2009, 06:50 AM
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Re: Man Reunited with Stolen Corvette After 39 Yrs
[ QUOTE ]
the dealer that sold it to my neighbor "jumped" the title It is impossible for a dealer to "jump" title. Dealers don't put titles in there name, that is why titles have an area for dealer reassignment. It lets the DMV know where the car was between the guy that traded it and the new buyer when it is titled in his name. Now the previous owner that had it when sold to the dealer MAY have jumped title, but that is of no concern to the dealer as long as the guy selling it has a legal bill of sale and the title is signed by the owner of record on the title and itr is notorized if required. When you buy a car from a dealer if you were able to do a title search you would only see the previous owner. If you had deeper access to DMV records it would show the dealer that sold it between you and that other owner, but you would already know who YOU bought it from. [/ QUOTE ] [b]the dealer had it "on consignment" and never touched/reassigned/whatever the title, the check was made to the dealer but the title came directly from the consignor ... [ QUOTE ] my neighbor was out the $65k until it was awarded last week and he DID get a check from his insurance company ... My GUESS would be that HIS insurance company will be looking to the dealer for reembursment. [/ QUOTE ] his insurance company had investigators working on it from day one, reimbursement is unknown from ??? the dealer needs to lose his bond and go to jail for tax evasion too ...
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Jim R Scottsdale, AZ
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#4
12-12-2009, 11:36 AM
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Re: Man Reunited with Stolen Corvette After 39 Yrs
[ QUOTE ]
[ QUOTE ] the dealer that sold it to my neighbor "jumped" the title It is impossible for a dealer to "jump" title. Dealers don't put titles in there name, that is why titles have an area for dealer reassignment. It lets the DMV know where the car was between the guy that traded it and the new buyer when it is titled in his name. Now the previous owner that had it when sold to the dealer MAY have jumped title, but that is of no concern to the dealer as long as the guy selling it has a legal bill of sale and the title is signed by the owner of record on the title and itr is notorized if required. When you buy a car from a dealer if you were able to do a title search you would only see the previous owner. If you had deeper access to DMV records it would show the dealer that sold it between you and that other owner, but you would already know who YOU bought it from. [/ QUOTE ] [b]the dealer had it "on consignment" and never touched/reassigned/whatever the title, the check was made to the dealer but the title came directly from the consignor ... [ QUOTE ] my neighbor was out the $65k until it was awarded last week and he DID get a check from his insurance company ... My GUESS would be that HIS insurance company will be looking to the dealer for reembursment. [/ QUOTE ] his insurance company had investigators working on it from day one, reimbursement is unknown from ??? the dealer needs to lose his bond and go to jail for tax evasion too ... [/ QUOTE ] No real rules for a dealer that takes consignments as they are only acting as a "salesman" and if they never owned the car then they never had title to it. The transaction in the eyes of the law was between the owner/seller and the new buyer. No reason to sue the dealer then. I don't know the specifics and why you would think the dealer was evading taxes? Then Your neighbor's insurance company will probably be looking to the seller for reimbusememnt for selling a stolen car. As I said previously, this usually starts a chain reaction backwards.
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