Legal Question in Credit and Debt Law in Arizona

I sold an enclosed trailer on a contract and had the title filled out with me as lien holder. The title place did not list me as lienholder when the title was issued. I did not this at the time. After 45 days the purchaser said he needed a couple more weeks for the payment and I agreed. Then no contact. I checked with the state and they did not have a record of me as lien holder and had to go to archive to find the original. They found that indeed the title had been transferred with me as lienholder but failed to note it on the new title. The person has since transferred to another owner. Registered letters were sent to both parties involved stating there was a title discrepancy. the letters were signed for but no action taken. I am currently out $5500 dollars and seem to have no recourse. What are my options?


Asked on 9/10/10, 8:30 pm

1 Answer from Attorneys
Debra Palomino PALOMINO LAW FIRM, P.C.

You are not without recourse, you can sue your buyer for the balance and request a writ from the court to recovery the property. You will have to notice the new buyer of your interest in the property.

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Answered on 9/16/10, 10:52 am


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