A better alternative for Californians may be the use of a Montana business entity, because Montana would allow a legal, tax-free registration of the car
The March 2009 “Legal Files” regarding sales tax triggered two helpful responses from attorneys, which suggested the need for a follow-up on this subject of great interest to car collectors.
It’s not worth going to jail
Excellent advice came from Jon Ash, a Bend, Oregon, attorney with Read More
Take due diligence steps to protect yourself, even though that interferes with the red mist that materializes when you find the collector car of your dreams
Most states issue certificates of title for cars, often referred to as “pink slips” because of their color (in California, at least; other states have different hues). They are considered foolproof evidence of ownership of the car, although recent incidents suggest that may not always be Read More
Five states do not levy sales taxes-Alaska, Delaware, Montana, New Hampshire, and Oregon. Oregon is the winner here
Ever feel like you’re being taxed to death? Everyone feels that way on April 15, but another way to feel the pinch is to buy a collector car and stop by your local DMV to get it licensed.
Consider a hypothetical SCMer taxpayer. He finds the right Ferrari Daytona coupe owned by a motivated Read More
The transporter demanded payment, but when Ric produced his receipt from the broker marked “Paid in Full,” he drove off in a huff
Sometimes it seems like our old cars spend more time being transported by others than transporting themselves. At first glance, it might seem that having your car buttoned up on a hauler or in a container would be simple and safe. But as you will read below, for both Read More
State laws commonly give powerful protection to mechanics who work on cars and garage keepers who store them, recognizing that they often need special powers to help them get paid.
Typically, these laws entitle them to retain possession of the car until they have been paid in full. If not paid after a specified minimum time, they are then free to sell the car to the highest bidder, and the purchaser gets good title to the car. The sale Read More
Various countries take different approaches. Some protect the innocent
owner whose property was stolen. Others protect the innocent purchaser
Acting on a tip from a confidential informant, the Connecticut State Police obtained a warrant to search the garage of a Sharon, Connecticut, collector. Inside, they found a 1958 Ferrari 250 PF Cabriolet, s/n 0799GT, which had been reported stolen in Spain some 15 years previously. The Ferrari had been smuggled into Read More
No need to get a second inspection, as the dealer had suggested; the first inspector was a pro and had already found 60-plus defects
The unhappy buyer of a Mercedes 300SL Gullwing recently contacted “Legal Files” with an unfortunate story. A couple years ago, he was having a tough time finding an acceptable Gullwing. He consulted a knowledgeable local dealer, who told him about a Gullwing in another city and introduced him Read More
Armed with a camera, they decided they could earn eternal YouTube fame by videotaping “Gibby” urinating on the Ferrari
It was a nice day in Ontario, Canada, so a Ferrari owner decided to take a top-down drive in his 360 Spyder. During his motoring, he decided to make a stop to run an errand at a shopping mall. He found a safe parking place and left the top down while Read More
In the spirit of the 20th anniversary of SCM, “Legal Files” has compiled a list of the top 20 traps that sellers and buyers of collector cars can fall into. I’ll split the list in half, with ten each for sellers and buyers.
The Sellers’ Top 10
When you’re the seller, your two primary legal concerns are to get all your money and to not to get sued later. Most of the Sellers’ Top 10 fits into one of those Read More
Hogan signed his son Nick’s driver’s license application, and will likely be held liable for injuries attributable to Nick’s negligence
Hulk Hogan and his family are currently defending a multi-million-dollar lawsuit that arose from his son Nick’s crash of his modified Toyota Supra. The crash left his passenger and friend, John Graziano, hospitalized with major brain damage that will leave him in need of constant medical care for the remainder Read More