Federal Court Puts the Brakes on Gouging for Parking Tickets

For many years, the City of Yonkers deployed a strategy designed to make lease/lienholders pay for the costs of its attempt to collect unpaid parking tickets. Yonkers would boot a vehicle and then call in a private towing company to haul away and hold the vehicle hostage. Yonkers would then send the lease/lienholder a letterمتابعة قراءة “Federal Court Puts the Brakes on Gouging for Parking Tickets”

Lienholders no longer have to pay for parking tickets in Nassau County

For many years, Nassau County has seized cars as a way to make drivers clear up old parking tickets. If the tickets were not paid, the County  would dispose of the vehicle. If a lienholder or lessor wished to recover a seized vehicle, Nassau County required payment of not just the tickets on the seized car,متابعة قراءة “Lienholders no longer have to pay for parking tickets in Nassau County”

Recovering vehicles from the NYPD

The NYC police department (NYPD) seizes more vehicles than any other agency in the country. The NYPD has been sued many times over the years and it has used the lessons learned from those lawsuits to refine its seizure and impound practices to the point where the NYPD has very specific and orderly procedures forمتابعة قراءة “Recovering vehicles from the NYPD”

Six most important changes in garage lien laws in 2021

2021 brought many changes in garage impounds Here are the six most important developments that benefit lien/leaseholders… Elimination of abusive storage fee tacticsThe worst abuse, the secret lien for storage, has met its demise.  For years garages contended that they had no obligation to send notice of accruing storage fees to lienholders/lessors. Garages would pile upمتابعة قراءة “Six most important changes in garage lien laws in 2021”

Auto finance alert: NJ garages

Are you losing money to garage keeper liens in New Jersey? (You should not be) The law in New Jersey is that lien rights in vehicles are determined on a first in time basis. This means that a garage keeper lien will be valid against an auto finance lien only if the garage keeper lienمتابعة قراءة “Auto finance alert: NJ garages”

A must read for leasing companies

Important new case means better protection for you Does the idea that someone could transfer your car to someone else without your consent seem wrong. For years, that is exactly what lessees have been doing to secure payment for garage repairs; they allow the garage to put a lien on the vehicle, without the knowledgeمتابعة قراءة “A must read for leasing companies”

Repossession Risks

Interlocks and impounds: understanding the risks Suppose a finance or lease customer calls and advises you that his car has been impounded by police in New York as the result of a charge of Driving While Under the Influence (DUI). The customer states that he can get the car back if you allow him toمتابعة قراءة “Repossession Risks”

Beware of fraud resulting from lien release law

NY’s new dealer lien release law exposes lienholders to title fraud On June 17, 2013, NY Vehicle and Traffic Law Section 2121(b) goes into effect. This new law will enable dealers to release vehicle liens without lienholder consent. The law is intended to enable dealers to quickly resell vehicles that come in on trade. (Theمتابعة قراءة “Beware of fraud resulting from lien release law”

Two Tricky Repo Issues

Does NY law prohibit repossession on weekends? New York Vehicle and Traffic Law (V&T) 425 requires that the repossessing creditor send a notice of repossession to the DMV and the vehicle owner within 24 hours of repossession. DMV offices are closed on Saturdays and Sundays. The most conservative creditor could resolve the problem by notمتابعة قراءة “Two Tricky Repo Issues”

Combating Title Washing, Understanding the BFP Defense

Title washing means the removal of a lien by fraud. Often, by the time the fraud is discovered, the car has been resold to a buyer who claims to be a “BFP”. BFP means bonafide purchaser. A buyer can only be a BFP if he had no knowledge that the lien was removed by fraud.متابعة قراءة “Combating Title Washing, Understanding the BFP Defense”