Legal Files

The court ruled the buyer had opportunities to inspect the car before buying it and to call the seller to ask about the car, and chose to do neither Suppose you have a not-so-nice collector car you want to sell for big bucks. Your best shot might be to list it on eBay or some…

There’s no uniform code of ownership within the EEC, but each country has documents that will protect you in your transaction After John Draneas’s learned article (April, p. 34) on the title pitfalls of buying a collector car in the U.S., here’s a European perspective. Or, as the exam question might have read: “How is…

We are addressing provenance created by the owner after a car’s acquisition, and whether the costs involved can be used to reduce the gain on the sale Many collectors are selling cars they have owned for several years, often for substantially more money than they paid for them. In many cases, they purchased these cars…

High Performance Driver Education coverage insures bad things don’t happen to good people (that’s you) during track days Here’s a man-bites-dog twist to track day crash liability concerns, resulting from a crash at a Dodge Viper Owners Invitational track event at Las Vegas Motor Speedway. Dodge sponsors such events periodically, and invites Viper owners to…

To rub salt in the wound, the appellate court rejected the Plaintiff’s arguments that he should get a new trial A few years ago, I was in Los Angeles for a professional conference and had a free day, so I visited the Nethercutt Museum in nearby Sylmar. The museum is owned and operated by The…

We were surprised to see that the Ferrari’s title had Rick’s signature forged on it, and the Italian shipping company was listed as the new owner. Dear “Legal Files”: My husband Rick and I, along with our friends, have encountered a bizarre set of circumstances with Shakespearean elements of trust and betrayal, possible fraud and…

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.…

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…

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…

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…