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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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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