Posted by Dean on September 24, 2010 at 04:44:20 from (68.46.208.21):
In Reply to: Watch Who You Buy From posted by glenn in OH on September 23, 2010 at 20:38:40:
You can rest assured that JD credit has dotted the "i"s and crossed the "t"s regarding the UCC filings. As a result, they will no doubt have first lien against the tractor.
Your recourse will be with the seller who sold a tractor that he did not own. Most likely he is judgment proof, and other liens have already been filed against his assets.
Conceivably, you may be found a subsequent "buyer in good faith" but not necessarily. In any event, such determination must be made by a court of law. The cost of litigating the matter could easily exceed the $6000 cost of the tractor.
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Today's Featured Article - Talk of the Town: The Saga of Grandpa's Tractor - by The following saga is from the Tractor Talk Discussion Forum. Someone. The saga starts with the following message: Hey guys I have a decision to make. I know what you all will probably suggest and it will probably agree with me way down inside, but here it is. I have a picture blown up and framed in my "tractor room" of a Farmall M. It was my Grandpa's tractor, of which whom I never got to meet. He froze to death getting this tractor out of the barn to pull a truck out of the ditch before I was born. Anyway my dad and aunt had to sell it at the auction,
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