Posted by Dean on September 24, 2010 at 04:44:20 from (68.46.208.21):
In Reply to: Watch Who You Buy From posted by glenn in OH on September 23, 2010 at 20:38:40:
You can rest assured that JD credit has dotted the "i"s and crossed the "t"s regarding the UCC filings. As a result, they will no doubt have first lien against the tractor.
Your recourse will be with the seller who sold a tractor that he did not own. Most likely he is judgment proof, and other liens have already been filed against his assets.
Conceivably, you may be found a subsequent "buyer in good faith" but not necessarily. In any event, such determination must be made by a court of law. The cost of litigating the matter could easily exceed the $6000 cost of the tractor.
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