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by 89bravo on June 16th, 2007

89bravo

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My dad has my friend title to his motorcycle. however friends uncle is using it at dirtbike. What happens to the title if his uncle destroys the thing for parts or a crash. The cycle is worth about 500 mint condition. its to pay back money he owes him.

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  • by rselvy on January 14th, 2008

    rselvy

    If you mean destroys it using it as a dirt bike and your dad is holding the title for collateral on money owed to him, I would strongly recommend your dad taking the bike and holding it until the debt is settled. With a top value of $500.00 is mint condition then essentially the bike is a write off for resale. I don't know what type of bike it is but you can salvage the bike and sell parts separately to make the money. You would be surprised how much money you can make by "parting" out the bike and selling the parts in a local newspaper of recycler. The frame alone is worth good money, then you have the tank if it's not wiped, the engine, forks and the electrical system. All of these items are generally in high demand if the bike is popular. You can even sell the parts on EBAY, that would be a great place to make the money back. Remember the frame gets the title and the engine gets a bill of sale when selling out the parts.

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