Legal Question in Consumer Law in Georgia

Title verses Bill of Sale

Which is most legally binding, a Tile or a Bill of Sale? We bough a horse trailer in 04 and only received a bill of sale because we didn't even know horse trailers had titles. Then in 05 the guy that had the trailer before the guy we bought it from who had the title borrowed money from a bank on it. He has defaulted on the loan and they can't find him. Now the bank says they are coming to take the trailer back from us. What are our leagal rights? Thanks :)


Asked on 5/30/08, 7:12 am

2 Answers from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Title verses Bill of Sale

The title dictates who owns it.

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Answered on 5/30/08, 7:20 am
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Title verses Bill of Sale

It is likely not a question of "most legally binding." Both can be fully legally binding. If the bank's security interest in the trailer is valid, they probably have the right to get the trailer no matter who you bought it from or for how much. If your contract is valid, you might have a right to seek your money back from the seller, who might not have had the ability to sell what he was selling. Conversely, depending on the facts, you may be deemed to have bought whatever limited interest the seller had (ie, you took with the lien) because you did not make a good faith investigation into the title and lien.

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Answered on 5/30/08, 7:21 am


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