Abandoned Property Can we sell it?

5 Replies

We bought an REO in Milwaukee a few months ago and just got the former owner moved out. When we opened up the property it had the usual junk in it along with a car left in the driveway, tires had air but it looks like it hadn't moved in a long time so assume it doesn't run.

There was also a motorcycle in the garage.

My realtor / PM called me and said she had called the city to have the car towed but it looks like the motor cycle might have a small value.  Does anybody know how we file to get title on the bike so we can sell it?  

P.S  This will be a rental for us.

I think it will all depend on the terms of sale and the state laws.  In most cases, anything left behind becomes your property and your problem. As far as title, talk to your local DMV and explain the situation and see what advice they have. Again it all depends on the terms of the property sale and state laws.

Lien sale, is how I'd do it. 

I would sell it on craigslist  without the title. 

Generally speaking there is a abandoned title procedure in each state.  Normally it entails calling a tow company and they tow it away and deal with it.  The tow company then has a method to sell it using a mechanics lien.  

The only way to title it in your name would be if the vehicles are specifically listed on the transfer docs, including the VIN.  Otherwise, there is no way to know that the previous homeowner even held title to those vehicles.  Here's a site that might interest you:  www.TitleRecovery.com

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