Legal Question in Personal Injury in New Jersey

I purchased and financed a motorcycle. Due to loss of license I decided to sell the bike through the business where I purchased it(Greenbrook Cycle and Marine), I gave them the bike on consignment with the agreement that they would charge me $50 and keep any amount of money over $5000. This bike was financed through GE Money Bank and a balance is still owed. I was informed by Greenbrook Cycle and Marine the bike had been sold and they were waiting for the finance company to pay them. In the meantime, they gave the buyer a temporary registration and he took the bike. I have been making the payments on the bike as Greenbrook Cycle states that the principle paid would be added to the amount that they stated I would get. It has been four(4) months now and Greenbrook Cycle and Marine still has not received the money from the finance company. My main concern is this motorcycle was financed through GE Money Bank and I still have a balance due which means the title to the motorcycle is actually still in my name as the title will not be sent to Greenbrook Cycle and Marine until the loan is paid off. Being that the motorcycle is still titled in my name and the fact that Greenbrook Cycle let the buyer take the motorcycle home, can I be held responsible if this person has an accident causing property damage, injury or death? This really concerns me!! THANKS for any help! The reason I am using this site is my home was recently forclosed on and I am in pretty bad financial shape and I can't afford to even consult with an attorney at the present time.


Asked on 12/10/09, 6:12 am

1 Answer from Attorneys
Locksley Wade Law Office of Locksley O. Wade

It appears that there is a screw-up in the financing of your former motorcycle. Check with the the Dept. of Motor Vehicles to see if the bike has been registered in another persons name.

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Answered on 12/15/09, 6:56 am


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