How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Dimitry K., Esq. Your Own Question

Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 38791
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
18572087
Type Your Legal Question Here...
Dimitry K., Esq. is online now
A new question is answered every 9 seconds

I own a freight brokerage company, and one of my agents took/stole

Resolved Question:

I own a freight brokerage company, and one of my agents took/stole $92,000.00. He also had a trucking company.

I would like to believe he wants to pay me back, he has paid off his loans in the past, butt those were loans!

He has given me signed titles to his trucks and trailers, however the trucks are in his possession. In a different city about a 1 hr. flight. The trucks are worth about $30,000.00. He still owes money on a few of them.

My Questions.
Does having signed titles really do me any good? can I sell the trucks? Should I put a lien on the titles? My concern: He has the trucks and wants to use them to move loads so he can pay me back. In theory a great idea, except that the trucks have a history of breaking down. I would like to cut my losses and sell the trucks. What do I need to do so I can pick up and sell them?

Your advise is greatly appreciated. Know any truck drivers?
Submitted: 3 years ago.
Category: Legal
Expert:  Dimitry K., Esq. replied 3 years ago.
Thank you for your question.

I am truly sorry to hear that you are in this situation. How many titles to do you have on hand? Where the titles literally signed over to you, or do you simply have the titles? How many do you hold and how much do you estimate they are worth? This contract that he signed with you, was it notarized?
Customer: replied 3 years ago.
I have 9 signed titles. I am guessing, but around $30,000.

Yes, The Promissory Note is initialed on every page, signed and notarized.

I have to take my dog out, I'll be back in about 15 minutes.

Thank you.
Expert:  Dimitry K., Esq. replied 3 years ago.
Thank you for your follow-up.

Actually that makes it very simple. If he did sign the titles over, what you can do is simply call or contact a repo company (or even do it yourself), and take the trucks back, since you own them. That may be the fastest and easiest solution in that situation. Or, you can possibly first give warning--send a letter demanding that the other party make good on the debt within a specific period of time and if he fails to do so, you will reserve the right to take the trucks away.

Good luck.
Customer: replied 3 years ago.
that does not sound correct. It doesn't make sense that just one signature on a title allows me to sell the trucks or go get them. How do I prove he actually signed the title. There is no documentation that he gave me the trucks as partial payment for his debt.

Just a title with only a signature? If I can really repo the trucks without any other documentation, there is something very wrong with this law.
Expert:  Dimitry K., Esq. replied 3 years ago.
Thank you for your follow-up.

I am sorry if that does not sound correct, but if he actually did transfer titles under your name, then those are YOUR trucks and not his (and why I asked if the titled were actually signed over, or whether or not you were holding blank titles to the vehicles). In the case of the former, you are now the legal owner, and while there is no proof that this was in exchange for the debt, there is proof that the vehicle was transferred to you under your name.

There is actually nothing wrong with this law--the second the title was transfered it is no longer his property, and since you own it, you can pursue it.

Good luck.
Customer: replied 3 years ago.
Ok so you are saying that if I have a title with a signature means it is now mine?
So if I want to sell the trucks I just sign the title, under the other signature and I give the title, now with two signatures, to whom ever is buying it?

Then why is it so complicated at a dealership? And what about the license plates? What about tax title and license? What is that?

I am not buying your answer. There has got to be more to it than just signing a piece of blue paper.
Expert:  Dimitry K., Esq. replied 3 years ago.
Thank you for your follow-up.

We may be miscommunicating on what actual "ownership" is.

Please permit me to break this down for you, and please feel free to ask if anything is unclear. Let's say that I owe you $10,000 and as collateral I sign over title to you on my vehicle. Should I default, you are free to go to the DMV, register the title over to your own name, and claim ownership. That signed over title denotes your right and ability to pursue the vehicle as yours. Similarly, in this situation, as there was no written contract, you are free to go to the DMV, register the vehicle over to yourself, and make them yours. After all that you are free to apply for license plates, and as for taxes, the transfer was for $1.00, as it was a transfer that took place due to breach of contract from before when there was no costs associated with the title. Those, however, are minor matters that come up after you assert your ownership rights.

The reason it is so complicated at the dealership is because usually the vehicles have leases or additional liens or payments associated with them. If you ever purchased a vehicle for cash, so long as you have a valid license, provide them with the full cash amount, and title is registered, the vehicle is yours. Calling your insurance company is your responsibility once ownership is transfered, and when you actually register the vehicle with the DMV, that is when you can also apply for plates.

Please do not "buy" my answer--if it sounds too simple, contact your local DMV and see for yourself. Just because it sounds simple does not make it wrong--I actually tend to prefer to simplify most issues rather than attempt to complicate them. My answer, however, IS correct so long as title was already signed over to you.

Good luck.
Customer: replied 3 years ago.
So before they are actually mine i have to register the title to my name, then the trucks are mine to sell. Remember these are big motor carriers, and the same laws apply to cars and trucks? Can I send a repo company before I register the titles? I also asked you about putting a lien on the trucks so ownership is better.
Expert:  Dimitry K., Esq. replied 3 years ago.
Thank you for your follow-up.

So before they are actually mine i have to register the title to my name, then the trucks are mine to sell.
They are yours once you register them. If you choose to sell them, that is your prerogative, but first taking back physical ownership may be wiser.

Remember these are big motor carriers, and the same laws apply to cars and trucks?
For title transfers? Yes.

Can I send a repo company before I register the titles?
Yes, once you show them the title transfer is in your name--that is deemed sufficient to denote ownership and that would be enough for the repo company to pursue.

I also asked you about putting a lien on the trucks so ownership is better.
I do not see the point of a lien when you can simply re-title the trucks under your name. That is both cheaper and simpler. That title you are holding is a de-facto lien which you can act on by simply asserting ownership.

Good luck.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 38791
Experience: Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
Dimitry K., Esq. and 10 other Legal Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it. Lee Michigan
 
 
 

Meet The Experts:

 
 
 
  • Tina

    Lawyer

    Satisfied Customers:

    8436
    JD, BBA Over 25 years legal and business experience.
< Last | Next >
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    8436
    JD, BBA Over 25 years legal and business experience.
  • http://ww2.justanswer.com/uploads/RA/ratioscripta/2012-6-13_2955_foto3.64x64.jpg Ely's Avatar

    Ely

    Counselor at Law

    Satisfied Customers:

    19941
    Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    8189
    25 years of experience helping people like you.
  • http://ww2.justanswer.com/uploads/jespoag/2008-12-17_222355_jessepic.jpg JPEsq's Avatar

    JPEsq

    Attorney

    Satisfied Customers:

    2132
    Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor
  • http://ww2.justanswer.com/uploads/gsenmartin/2008-04-22_214950_me1.jpg Guillermo J. Senmartin, Esq.'s Avatar

    Guillermo J. Senmartin, Esq.

    Attorney

    Satisfied Customers:

    110
    7+ years of experience handling various legal matters.
  • http://ww2.justanswer.com/uploads/PA/PaulmoJD/2013-10-10_195858_JAImage.64x64.jpg Law Educator, Esq.'s Avatar

    Law Educator, Esq.

    Attorney

    Satisfied Customers:

    31621
    JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    15975
    Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
 
 
 
Chat Now With A Lawyer
Dimitry K., Esq.
Dimitry K., Esq.
Attorney at Law
16649 Satisfied Customers
Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.