Posted by Mike (WA) on March 13, 2013 at 13:09:53 from (69.10.199.246):
In Reply to: Buying a tractor posted by Harvey 2 on March 13, 2013 at 10:20:30:
Each state has its own system of recording liens on personal property (ie, non-titled stuff, like tractors and machinery). In Washington, UCC-1 "financing statement" used to be recorded at the county auditor's office- but switched over to centralized filing at the Secretary of State's office in the 80's. You can check it on line, now.
Easiest way to figure out the system in the state from which the tractor is coming, is to ask an ag banker like Farm Credit or a machinery dealer (from that state) how they perfect a security interest in machinery, and how to go about checking for liens on the item you're buying.
To answer your original question, if there is a recorded, perfected lien on the tractor, you are "stepping into the shoes" of the guy who owes the money. Neither you nor the seller have committed a crime, but the lender has every right to come after you for the money, and then repo the tractor if you don't pay.
And you have every right to unwind the sale and try to get your money back from the seller- good luck with that!
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