Posted by Hugh MacKay on January 28, 2009 at 04:03:42 from (216.208.58.123):
In Reply to: Re: SMD-TA#'s?? posted by BOBM25 on January 27, 2009 at 19:19:38:
Bob: Over the years serial tags have been removed for a number of reasons. Probably less than 5% of the tags removed were due to mechanical damage to the tag. Some have been removed as a result of the tractor being stolen at some point in it's history. A lot of them came off in the interest and credit crunch of the 1980s. The owner didn't want the banker or other creditor to find the tractor. I guess from the banker's perspective those tractors were stolen.
Still other tags were removed by folks who had been in possession of dad's tractor for years without a paper trail or a will. Dad passed on and all of a sudden the guy in possession of the tractor found out his siblings wanted an even split of everything down to the most lowly screwdriver that might have been dad's. Probably the guy in possession had more dollars tied up in upgrades than dad paid for the tractor new.
Then we have folks trying to avoid the tax man, sold the tractor for cash, didn't claim it as recovered inventory. We all know the tax man will spend $5. to recover a dollar.
In some respects all these situations except the damaged tag can be considered theft. In most cases, lawyers will advise these folks, recovering an old tractor just ain't worth the dollars needed to recover it. The fact remaines, if you don't have a valid title some passionate !@#$%^& can cause you much grief.
The bill of sale is a title, doesn't have to be elaborate, can be as simple as a cash receipt, saying you paid John Doe, $xxxx.oo for tractor serial and model number xxxxxx and xxx, dated and signed by John Doe. I've never encounterd problems with this, probably because I refuse to lay out money for any item that had a serial number when new without a bill of sale. I do know folks that have, and saw the effect of a tractor being grabbed by the law.
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