I have a jet ski we're the owner filed bankruptcy and the bank never picked it up. Can i get the title?

Asked 4 months ago - Las Vegas, NV

The owner filed Bankruptcy... Had the ski stored ot his sons house the son ants it out of his garge and asked me if i wanted it... they have called the back and have gotten no where.

Attorney answers (4)

  1. Patrick R. Driscoll

    Contributor Level 4

    1

    Lawyer agrees

    Answered . You want an attorney to review the situation and see what it would take to obtain possession of the title. Contacting the lender is a quick way to get title and may allow you to obtain title for a nominal amount. You also risk waking a sleeping bear and drawing attention to it. Which is where the other option comes in with getting an abandoned vehicle. Either way, an attorney would likely be best situated with navigating those waters.

  2. Dorothy G Bunce

    Pro

    Contributor Level 20

    Answered . You might want to check DMV laws but I believe there is a way to obtain a title for an "abandoned vehicle" under Nevada law. These laws are posted on the DMV & state website. Hope this perspective helps!

  3. Jeremy S. Davidson

    Pro

    Contributor Level 13

    1

    Lawyer agrees

    Answered . The Jet Ski is still the bank's collateral. I'd recommend calling the bank and offering to pay some nominal amount for it.

  4. Blake Owen Brewer

    Contributor Level 18

    1

    Lawyer agrees

    Answered . I am confused as to who bought the boat and who filed bankruptcy. If you are both, and the bankruptcy is still open, your attorney can file a motion to redeem for one dollar. This is used frequently when the lender won't pick up the collateral. I just did this for some clients who now have a nice ski boat in their garage, no lien.

    I am not your attorney unless you and I have signed a retainer agreement. What I am saying is not legal advice.... more

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