Legal Question in Banking Law in California
Bank doesn't exist anymore!!!
Bought an aircraft. I cannot deregister it, turns out it has a Chattel Mortgage from a bank that doesnt exist anymore and the company doesnt exist anymore.
This is what they are asking for, keep in mind that the bank and the company do not exist anymore:
''Submit release or consent to export from the current holder of the Chattel Mortgage dated July 19, 1966, executed by Tri-County Engineering Corp. to Security national Bank of Contra Costa, recorded by the FAA on September 6, 1955, as recorded conveyance number X011189. A partially completed form is enclosed for your possible use.''
Who is supoosed to sign the release?!! HELP!
1 Answer from Attorneys
Re: Bank doesn't exist anymore!!!
Banks get merged into other banks, and I think Security Natl Bank is now part of Bank of America headquartered in Charlotte, NC. An authoritative list of bank mergers is kept by the Federal Reserve Board and is available on their website (frb.gov). But even if you find the correct bank, the documents may not exist or the bank won't be able to find them. The fastest way I can think of to solve your problem is a lawsuit "to quiet title." Please let me know if I can help.
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