Business Law

Ask a Business Lawyer. Get Business Law Questions Answered ASAP.

Ask a Lawyer,
Get an Answer ASAP!

Business Law

NJ car lien. My friend has car in NJ ... and I / via my FLa

Customer Question
NJ car lien. My...
NJ car lien. My friend has car in NJ ... and I / via my FLa LLC / wants to lend friend some $$ and we agree that my FLa LLC (the lender) can put a lien on his car in NJ. Looks like the lien procedure is difficult and NJ requires my simple fla llc to get a code and various registration. soooo ... can we (my Fla LLC) file a UCC in NJ ... and list the Car VIN number and have some security that way ?
Submitted: 6 years ago.Category: Business Law
Show More
Show Less
Ask Your Own Business Law Question
Answered in 5 minutes by:
7/14/2011
Business Lawyer: BizLawyerNate, Attorney replied 6 years ago
BizLawyerNate
BizLawyerNate, Attorney
Category: Business Law
Satisfied Customers: 10,686
Experience: 7 Years of Legal Experience Representing Small Business Owners
Verified
Thank you for your question and welcome to Just Answer.

A security interest under the UCC would be valid between you and your friend, but it would not put other creditors on notice as to your priority interest.

I think the New Jersey lien process is easier than you think.

The financing statement form to file with the DMV is here (http://www.state.nj.us/mvc/pdf/About/OS_SS-85C.pdf)

You send that form, along with your friend's title and $85.00 to XXXXX
Database Corrections/In House Agency
P.O. Box 141
225 East State Street
Trenton, NJNNN-NN-NNNN

The New Jersey DMV site on the lien process is here

http://www.state.nj.us/mvc/Vehicle/Liens.htm


I will be happy to follow up with you if you have additional questions. In the meantime, please click ACCEPT so that I can get credit for answering your question. Of course, if you really liked what I could help you with, please consider a Bonus, too!

Thanks!

Nathan Moore
Ask Your Own Business Law Question
Customer reply replied 6 years ago
thanks. I reviewed those forms yesterday and spoke with NJ motor vehicle dept. and any simple FLa LLC entity has to register in NJ ... and go through tons of hoops.
many states you do not have to do such registration to make a loan and secure a car lien.

ssooo ...can we (my Fla LLC) file a UCC in NJ ... and list the Car VIN number and have some security that way ? and then others can not lien it / my car lien via UCC is superior?
Business Lawyer: BizLawyerNate, Attorney replied 6 years ago
Okay. Your lien would be superior only if others have notice of it. Doing a financing statement under the UCC doesn't give that notice on vehicles.

How about this.

Your LLC loans the money. You personally lien the vehicle (not your LLC). You have a contract with your LLC that if your friend defaults, you transfer your lien interest to the LLC.

That's perfectly valid legally and gets you where you need to be without all the hassle. I'm just afraid that if you do what you're thinking, the rest of the world will not be on notice because, unlike equipment or some other collateral, liens on vehicles are supposed to be discerned from the title. There is no obligation to go any further than the title under the law to determine if someone else has a lien on a vehicle.


BizLawyerNate
BizLawyerNate, Attorney
Category: Business Law
Satisfied Customers: 10,686
Experience: 7 Years of Legal Experience Representing Small Business Owners
Verified
BizLawyerNate and 87 other Business Law Specialists are ready to help you
Ask your own question now
Ask BizLawyerNate Your Own Question
BizLawyerNate
BizLawyerNate
BizLawyerNate, Attorney
Category: Business Law
Satisfied Customers: 10,686
10,686 Satisfied Customers
Experience: 7 Years of Legal Experience Representing Small Business Owners

BizLawyerNate is online now

A new question is answered every 9 seconds

How JustAnswer works:

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

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

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.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, 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!!

ElaineAtlanta, 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.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Infolawyer

Infolawyer

Attorney

1,851 satisfied customers

Experienced lawyer

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

1,611 satisfied customers

Run my own successful business/contract law practice.

MShore Law

MShore Law

Attorney

1,233 satisfied customers

Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements

RGMacEsq

RGMacEsq

Attorney

751 satisfied customers

Licensed Texas General Practice Attorney

Barrister

Barrister

Attorney

646 satisfied customers

17 years practicing attorney, JD, BA, MBA

Ely

Ely

Attorney

577 satisfied customers

Counselor at Law.

J.Hazelbaker

J.Hazelbaker

Attorney

393 satisfied customers

Experienced and trained in the area of business law.

< Previous | Next >

Related Business Law Questions
What are the differences between an LLC and a company that
What are the differences between an LLC and a company that becomes INCorporated? Thanks Kevin… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
1,015 satisfied customers
What are the basic steps of starting an LLC, this is in
Hello, what are the basic steps of starting an LLC, this is in continuation tomy previous question.thanks… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
Can a startup Logistics Company incorporate as an LLC in
Can a startup Logistics Company incorporate as an LLC in Texas when it's members reside in NC and consequently the office also but the business operates out of Texas?The cargo, dispatch, and trailers … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Can a child be a partner in an llc. Texas. That's it
Can a child be a partner in an llc JA: Can you tell me what state the LLC is registered in? Customer: texas JA: Has anything been officially filed? If so, what? Customer: no JA: Anything else you want… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
1,851 satisfied customers
My business is registered in Delaware as an LLC with a
Hi Pearl, my business is registered in Delaware as an LLC with a partner. My partner is no longer with the company. I would like to move the business to PA where I live. I am also changing the name of… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
1,015 satisfied customers
Is it unlawful to (re)form an LLC with the same name/EIN of
Is it unlawful to (re)form an LLC with the same name/EIN of another LLC that is revoked in a different state? Ownership would be the same for both entities. … read more
KLAW
KLAW
Juris Doctorate
1,777 satisfied customers
How do I close an LLC that was opened in the state of
Hello,How do I close an LLC that was opened in the state of Florida? The LLC is owned by my husband and I… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I have an LLC question. Texas. I have an official LLC. I'm
I have an official LLC. I'm opening my own restaurant and everything is solely in my name and under my own LLC … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
Is there a rule which requires that a corporation (or LLC)
Is there a rule which requires that a corporation (or LLC) must have a lawyer in a civil case?… read more
Damien Bosco
Damien Bosco
3,395 satisfied customers
If an LLC is established as XYZ LLC and they would like to
If an LLC is established as XYZ LLC and they would like to set up a non-for profit Corporation under it. How should they proceed? If the NPLC is dissolved, what happens to the assets? Can he NPLC be c… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
1,851 satisfied customers
If an LLC (A LLC) in Utah has as the only member as another
If an LLC (A LLC) in Utah has as the only member as another LLC (B LLC). If B LLC failed to renew and has an expired registration as 5/30/2017. Is A LLC not defunct under Utah Code 48-3a-701 (3), beca… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
7,440 satisfied customers
THe other member of a two member LLC abandoned the LLC
THe other member of a two member LLC abandoned the LLC leaving me with no financial data that is reliable and actually took some assets worth some $700+. I filed a small claims action but it has taken… read more
WiseOwl58
WiseOwl58
JD Honors Graduate
3,726 satisfied customers
I have an existing TX LLC, doing business in CA. This LLC
Hello. I have an existing TX LLC, doing business in CA. This LLC will generate income from all over the world. I am going to register the TX LLC as a foreign LLC doing business in CA. At the same time… read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
1,015 satisfied customers
We have a Delaware LLC and a state LLC. My bank said that we
We have a Delaware LLC and a Washington state LLC. My bank said that we need to get something from the Secretary of State in order to open a Delawarre LLC bank account here in Washington. Is this some… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
Pa Civil Case. judgment back in 2016 on a llC on a contract
Pa Civil Case.judgment back in 2016 on a llC on a contract dispute back in April 2012. Judge removed the owners from the case in the judgment. Plaintiff could not collect on the llc. Plaintiff filed a… read more
Richard - Bizlaw
Richard - Bizlaw
Juris Doctor
3,700 satisfied customers
To be partner owner of LLC, the original owner of that LLC
to be partner owner of LLC , the original owner of that LLC update it in Secratery of state and put me under the title Agent is it ok ?… read more
RGMacEsq
RGMacEsq
Attorney
Doctoral Degree
751 satisfied customers
Started a new Real Estate LLC, How does the LLC borrow money
Started a new Real Estate LLC, How does the LLC borrow money to buy property without a personal guarantee?… read more
RGMacEsq
RGMacEsq
Attorney
Doctoral Degree
751 satisfied customers
If an LLC is administratively dissolved because the LLC
If an LLC is administratively dissolved because the LLC didn't keep up to date with the annual reporting requirements, what happens to the members of the LLC in terms of liability for the LLC's debts?… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
1,851 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x