You raise a very valid point but as an Attorney I can tell you Ive found the old saying that POSESSION IS 9/10 OF THE LAW IS FAIRLY ACCURATE.
You ask "While the odds may be slim, a previous owner or a legitimate-sounding schmuck off the street could suddenly lay claim to one of my tractors, and I wouldn't have a leg to stand on in a court of law!
HOWEVER YOU DONT NEED A LAG TO STAND ON its the schmuck who bears the burden (by a preponderance of the evidence) of going forward and the burden of proving himself to be the rightful owner. It is he NOT YOU who has to bring the case and then prove his point. If he says its his but you are the current peaceful posessor, absent any hard and legally admissible evidence he can produce to the contrary (to establish his lawful ownership), YOU WIN AT LAW
A current peaceful posessor of an item has a superior claim to it over alllllllllllll other then a proven rightful owner. You cant steal an item and then base your defense (establish yourself as the lawful owner) on thc fact the person you stole it from stole it earlier from someone else. The current posessor's right are still superior to yours REGARDLESS how he came about it.
Allllll that being said if you dont have a Bill of Sale or receipt etc (Reallyyyyyyyy a good thing to get and keep) its good to establish and memorialize and record your posession by pictures and/or a dated video inventory especially with serial numbers etc.
If you have it in your posession its pretty much yours unless and until someone can prove its theirs, and he not you has alllllll the burden of proof and persuasion (by a preponderance of the evidence) and absent good admissible evidence he doesnt have the leg to stand on,,,,,,,, HE NEEDS THE LEG NOT YOU Preponderance of the evidence means (if youre in posession) if you say its yours but he says its his, absent other evidence, YOU WIN he has to go over the (call it 50/50) threshold to prevail
A good dated pictorial or video inventory with serial numbers or other identifiers of personal property is a good thing for us all.....
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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