Buying Motorcycle from Person About to File
My question involves bankruptcy in the state of: FL
I hope this question is appropriate for the board. This is my first time on this site and it seems to be an active resource. :)
With that said, my problem is... I am looking at buying a dirt bike from an individual in my state. He is about to file bankruptcy and called his bk attorney before finalizing the sale. The attorney suggested he not sell the bike but also said it was OK if he wanted to. :confused: He mentioned there might be liability towards me and that the trustee can come after (sue) me for the money that they think he should have gotten above the sale price. Although the sale price is only a few hundred below NADA low retail and is similar to comparable dirt bikes. It's a decent deal (nothing special) but I'm really only going through the trouble of asking because it is the make and model I prefer. He has the title in hand.
If I go ahead and purchase this bike would I be opening myself up problems ahead?
Re: Buying Motorcycle from Person About to File
I would think any liability would attach to the fellow selling the bike. I've never heard of being able to go after the buyer.
You'd do well to run this past an attorney of your own, and BK procedures vary slightly from state to state.