Replies to This Discussion

Permalink Reply by groovy grove on November 21, 2008 at 14:57

i got an email today from jw porter and associates the people i leased with and the email said that any written or verbal lease offer made by them has been withdrawn. the effective date of this withdrawal was oct. 15. any lease, even if the intended lessor was sent a draft, that was not signed or executed before oct. 15 is considered to be null and void. does this mean when we signed the lease or when we deposited the drafts?

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Permalink Reply by The_Baron on November 21, 2008 at 17:32

When you signed the lease and gave it to your broker, and was notorized.

I'd be willing to bet that this pulls them out of the majority of their leases.

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Permalink Reply by The_Baron on November 21, 2008 at 17:34

We could execute a lease and you could take months to deposit your draft.

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Permalink Reply by The_Baron on November 21, 2008 at 17:35

Question.

If I bought your car, and you didn't deposit my check for a month, when did I buy the car?

Answer.
When the bill of sale was signed and notorized.

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Permalink Reply by Grice on November 22, 2008 at 7:10

The correct answer would be: When the OMV titles the vehicle in your name.

I have sold vehicles in the past, and one buyer neglected to title the vehicle into his name. Since I was dating his daughter at the time, I did not file my release with the OMV(giving him time to transfer title ownership into his name). Two years later, the car was abandoned on the side of the road, and I was held responsible for removing the vehicle or pay the fines. Even though we has signed a bill of sale, assigned the back of the title and money hand changed hands, I was still considered the legal owner of the vehicle.

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Permalink Reply by The_Baron on November 23, 2008 at 4:53

If you had turned in your plate following the sale that should have been all that was needed.

You should not have been held responsible for someon elses indiscretion. It sounds like the problem was not that he did not regriter the vehicle in his name, but that you failed to notify the OMV, by turning in your plate, that the vehicle was no longer yours.

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Permalink Reply by Grice on November 23, 2008 at 5:22

The title indicates ownership. The license plate indicates registration (the privilege to operate on public roads). You can possess the title, even if the vehicle is not registered. I did turn in the plates, but that only revoked the registration (the right to operate). Luckily. I was able to "donate" the car in lieu of fines or fees.

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Permalink Reply by groovy grove on November 23, 2008 at 1:18

I SIGNED WITH JW PORTER AND ASSOCIATES ON SEPT 26TH. HOW LONG DOES I TAKE FOR THEM TO NOTORIZE YOUR LEASES. THEY SAID THAT THEY WERE NOT GOING TO HONOR ANY LEASE SIGNED AFTER THE 15TH OF OCTOBER. THAT CHESAPEAKE WAS GOING TO LOOK AT THEM ON A CASE TO CASE BASIS. DOES ANYONE KNOW WHO I CAN CONTACT AT CHESAPEAKE TO GET ANSWERS? I JUST BELIEVE THAT SOMETHING IS NOT RIGHT WITH JW PORTER AND ASSOCIATES. SOMEONE SAID THAT THEY WERE PROBABLY GOING TO TRY AND GET OUT OF ALOT OF LEASES BECAUSE THEY MAY HAVE NOT BEEN NOTORIZED. SO HOW LONG AFTER YOU SIGN SHOULD THEY HAVE THEM NOTORIZED? THANKS YOU FOR ANY INFO!!!!!!!!!!!!!!

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Permalink Reply by Bobi Carr ("parker") on November 23, 2008 at 5:24

maejuice,

Have you checked to see if your lease has been recorded?

How many days did the draft state?

Let's say it was 30 days. That would be 30 days from the time it was presented to the issuer's bank. It would also be 30 banking days.

Good Luck, I think it is horrible that Chesapeake is treating people in this manner.

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Permalink Reply by groovy grove on November 23, 2008 at 5:40

it has not been recorded, do they record it before you get paid or after? 30 banking day draft, it is due on december the 4th. i do not think it will get paid.

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Permalink Reply by Bobi Carr ("parker") on November 23, 2008 at 5:48

maejuice,

I hope it gets paid.

I leased over a year ago, and my draft took MUCH longer than anticipated.

Find out the date that it was presented to their bank.

Recordation usually takes place after the draft has been presented to you.

Although in the climate that we are in, it seems that there is no longer a usual.

If I were in your shoes, I would feel more confident once the lease was recorded. After the lease is recorded, if you are not paid, I would find an attorney.

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