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It will be interesting to see what happens with this one. Most of the stories you hear about stolen cars being recovered and returned didn't have an insurance payout involved like this one does.
https://autos.yahoo.com/blogs/motora...212336408.html
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Not the best writing/reporting. Technically Allstate is the owner, but they can't produce a title so by NC law they can't exercise that ownership. Most likely this goes to auction, then state inspection wherever it ends up, then an assigned title. Diminished value? Probably, unless someone values the story behind it........
I would have thought that Allstate, as owner of record at the time of the theft, and with a record that they paid off the loan, plus possibly some small equity to the original owner, would simply apply to the state for a duplicate title from 1972. Seems strange that NC wouldn't have a standard process to replace a missing/destroyed title to the last owner of record, like in the case of a house fire that destroys family records.
That is crazy. You'd think what Roger said would work. There should be a last title on file, but maybe not being so long ago.
Bureaucrats!
Bah!
They generally fill me with disgust and contempt.
They should all be shot at dawn, five times a day, for a week...
Since the original owner was paid for the loss, I don't think he should have a claim on ownership. Allstate is most likely the owner of record, but I doubt they want to pay for the lawyers to exercise it. I agree with Bob. It's likely fate is auction with an assigned or salvage title.
I'm not surprised at the bureaucracy, though. We still have people going into the Social Security office or Veterans' Affairs having to prove they're not dead.
Just came across this, a bit more info.
Stolen Chevrolet Corvette found after 42 years, but could go away again | Fox News
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Blue velour interior....aw just brings back those 70's memories! :)
The modifications done by the "receiver of stolen goods" certainly messed up the value of that Corvette. Blue velour? Seriously? It's going to take some real $$$$ to to bring that pimpmobile back to the real world. It needs seat covers, door upholstery, console upholstery and door cards at the very least. Done in a shop, that will cost more than the car cost new.
Hopefully they come up with a title solution soon or it doesn't sound like it really matters for the original owner. What a bad deal.