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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22303
Experience:  37 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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I bought a ute with out motor and gear box.spend $4500 get

Customer Question

Hi i bought a ute with out motor and gear box.spend $4500 get it on the road. Found it had security on it. Went to court won then finance place took me back to court i won again. i can take motor and gear box out and give back the chassis. When picking up the ute there was no water or oil damaged to the motor, i explained to the finance place i would take them to court again they decide give me back the whole ute and removed the security from it. Then after i spent more money putting it back on the road, i left a bad feedback on his google website and he put the security back on the vehicle. Can he do this anytime he likes and for any owner? How can that be?
Submitted: 5 months ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 5 months ago.
You could now threaten to remove the security and indicate because this is malicious and unfounde, you will seek full lawyer costs for doing this. If he doesn't, then you have a good prospect of getting those costs from him and an expensive lawyer would be justified
Expert:  Chris The Lawyer replied 5 months ago.
By remove, I mean in court as before
Customer: replied 5 months ago.
Hi I've been fighting this guy in court year and half scaring him with court won't work I need to know where these laws are written computer so I can fight.need the right information on these laws I cannot afford a lawyer and he knows it. so it is up to me to learn about the law
Expert:  Chris The Lawyer replied 5 months ago.

The relevant act is the personal Securities Act which you can find here http://www.legislation.govt.nz/act/public/1999/0126/latest/DLM45900.html?src=qs

This is the website which is the official government site for all acts of Parliament. You will see under this act the ability to apply to court to remove a security.

162When debtor, etc, may demand registration of financing change statement

The debtor or any person with an interest in property that falls within the collateral description included in a registered financing statement may give a written demand to the secured party if—

(a)

all of the obligations under the security agreement to which the financing statement relates have been performed:

(b)

the secured party has agreed to release part or all of the collateral described in the collateral description included in the financing statement:

(c)

the collateral described in the collateral description included in the financing statement includes an item or kind of property that is not collateral under a security agreement between the secured party and the debtor:

(d)

no security agreement exists between the parties:

(e)

the security interest is extinguished in accordance with this Act

To remove the security you need to file what is called an originating application, which is a document under the District Court Rules.

Expert:  Chris The Lawyer replied 5 months ago.

The first step is to apply to the registrar to amend the register on the grounds that this has happened maliciously. This is the section you should quote

70Removal of data from register

(1)

Data in a registration may be removed from the register—

(a)

when the registration is no longer effective; or

(b)

on the registration of a financing change statement discharging or partially discharging the registration; or

(c)

if the Registrar is satisfied that the data is frivolous or vexatious.

(2)

The Registrar must, before he or she makes a decision under subsection (1)(c), give the secured party notice to show cause, within 10 working days of the date on which the notice is given, why the data is not frivolous or vexatious.

(3)

If the secured party fails within 10 working days of the date on which the notice is given to show cause to the Registrar’s satisfaction why the data is not frivolous or vexatious, the Registrar may, in the Registrar’s discretion, remove the data from the register.

(4)

If data is removed from the register under subsection (1)(c), the court may, on the application of the secured party, make an order directing that the data be restored to the register if it is satisfied that the data is neither frivolous nor vexatious.

(5)

The court may make any other orders that it thinks proper for the purpose of giving effect to an order under subsection (4).

(6)

The Registrar must restore the data to the register in accordance with a court order made under subsection (4) as soon as reasonably practicable after receiving the order.

Expert:  Chris The Lawyer replied 5 months ago.

In the circumstances the registrar should make changes where the data is frivolous or vexatious. That may be easier than going to court, but if they won't change the data you will need to make a court application

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