Need Tips For Buying Used Camper

Reddog1 wrote:

Bob B wrote:
... I think doing the deal at the bank that has the loan would be the only safe way.

As a side issue.....what is the best way to arrange payment? I was thinking of doing the deal at their bank and doing a bank to bank funds transfer.

You have your answer here. The bank holds the loan, they can do the transfer, and sign a lean release. I would also have the seller to sign a release/bill of sale.

I think the word you wanted is "lien."

And there's seldom such a thing as a secret lien. If there is a lien, it should be recorded somewhere....unless the creditor has possession of the collateral. Every state's law on this will be different.

I have heard that nobody will loan money on a used truck camper here in NM because there are no title certificates and thus no way to record or enforce a lien.....but I do not know because I paid cash for mine.

A lien is a type of property interest between a debt and an item. But like any other kind of property interest, in order to tell the world that something is yours, there is usually an office where these things are recorded.

But lien or not, valid or not, recorded or not, there's one more thing to consider as well: "A thief conveys no title!"

AKA: if someone sells you something they don't own, it isn't yours any more than it was theirs......since they had no rights to sell you.