Can this be a true story or urban legend? Interesting little story on the Corvette Forum:
A friend has personal knowledge of a '53 Corvette
that has been in a shed covered since 1954. The
owner bought the car in 1953, made payments for
a year, lost his job, reported the car as stolen, received
an insurance settlement, and hid the car in a shed.
The man has since died but the car is still on the family
property in a shed for 54 years.
The family is afraid to do anything with the car for fear
of exposure to legal problems. The car has less than
1,000 miles on the odometer.
My friend has personally examined the car, it is in very
good condition,and still covered. He has asked if they
want to sell it, but they are afraid of what might happen
legally.
By my reasoning, the insurance company got the title
when they paid the loan company off. So the insurance
company legally owns the car. Statute of limitations would
cancel any criminal problems, but I would think if the insurance
company was still in existence they might want the car.
Would the insurance company still have the title after
all these years?
Would DMV still show the car as stolen?
Any suggestions?
Opinions?
sted
that has been in a shed covered since 1954. The
owner bought the car in 1953, made payments for
a year, lost his job, reported the car as stolen, received
an insurance settlement, and hid the car in a shed.
The man has since died but the car is still on the family
property in a shed for 54 years.
The family is afraid to do anything with the car for fear
of exposure to legal problems. The car has less than
1,000 miles on the odometer.
My friend has personally examined the car, it is in very
good condition,and still covered. He has asked if they
want to sell it, but they are afraid of what might happen
legally.
By my reasoning, the insurance company got the title
when they paid the loan company off. So the insurance
company legally owns the car. Statute of limitations would
cancel any criminal problems, but I would think if the insurance
company was still in existence they might want the car.
Would the insurance company still have the title after
all these years?
Would DMV still show the car as stolen?

Any suggestions?

Opinions?

sted

Comment