Hello,
I recently bought a trailerboat and even though I did a ppsr check it turned out the person I bought it off had secured finance on the motor.
I'm expecting the motor to be repossessed. I have a receipt that says nothing about finance on it. I can't contact them. I have never been in trouble with finance or the law in my life.
I have two questions:
If the motor is damaged, or stolen while in my possession, am I liable for it?
If I decide to sell parts of it to recoup my loss will I be held liable?
Thank you.
B
I recently bought a trailerboat and even though I did a ppsr check it turned out the person I bought it off had secured finance on the motor.
I'm expecting the motor to be repossessed. I have a receipt that says nothing about finance on it. I can't contact them. I have never been in trouble with finance or the law in my life.
I have two questions:
If the motor is damaged, or stolen while in my possession, am I liable for it?
If I decide to sell parts of it to recoup my loss will I be held liable?
Thank you.
B