Forum Discussion
mich800
Feb 26, 2018Explorer
hoosiermark wrote:
I was a banker or bank examiner for 15 plus years, never ever got involved in sales tax. That is between the buyer, dealer if they collect it and the State. It may be that the dealer is getting audited for not remitting all the sales taxes and the state is verifying none was due on this transaction due to being an out of state sale. The bank in question may be the one handling the dealers floor plan as to where the unit went and why there was no sales tax paid locally. The bank that holds the loan only wants their lien on the title so they have their collateral position established. The bank knows the buyers address and so why would they not go direct to the buyer for documentation (if they even wanted it)? Personally I would go to where ever you paid the taxes and transferred the title and ask them to comment. In Indiana we would go to the bureau of motor vehicles but maybe in your state it is different.
Then you know sales/property taxes are priming liens for a secured creditor. It may be rare a state files a lien for the unpaid tax on personal property it is still a possibility.
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