Quote History Originally Posted By rollpin:
I wonder if there is some way that this stuff could be avoided by having a separate form, or follow on form, or something, where purchase = legal ownership but not possession until Form 4 approved.
That would allow people to simply have it form 3'd to another dealer if something like this happens.
View Quote
Devil's advocate, it's still just a civil issue at best, given the approval of the registration documents to the new owner are what transfers ownership.
Say I'm selling you my truck.
We could exchange funds, I give you a bill of sale / receipt, your attorney drafts a sales agreement, I sign the title confirming my intent to transfer ownership to you....but I never give you the title because I'm cuffed and stuffed on the way over to hand it to you.
All you've got is a stack of paperwork confirming all the appropriate steps to transfer ownership have been completed, but you don't have the document confirming ownership. There's not much the regulating body (DMV / Title Clerk) can do, less law enforcement.
It's just a civil contract gone awry in reality.