CTA – Title Policy
The seller guarantees the title of vehicles that are sold through the Auction. This guarantee of title warrants that title shall be marketable and free and clear of liens and encumbrances, including any brand (such as Salvage) noted on the current or any prior certificate of title unless such encumbrances were announced at the time the vehicle is sold through the Auction and for a period of 7 days from the date of auction sale.
The Auction will not be responsible for any expenses incurred on vehicles for late title.
Seller and Buyer agree that Auction is neither responsible for the odometer mileage on the consigned vehicle nor information contained in the odometer mileage statement and the damage disclosure statement which Seller as Transferor is required to complete and sign and Buyer as Transferee is required to acknowledge.
In regard to defect in title and any matter relating to odometer mileage, odometer statement, or damage disclosure statement: Seller and Buyer agree to indemnify and hold harmless the Auction from any liability, loss, cost, damage or expense, including attorney fees which may arise either directly or indirectly from the sale and purchase of the consigned vehicle including but not limited to title services provided.
Seller will not be paid for vehicles sold until a transferrable title is received.
If title problem is due to a clerical or coding error, or incomplete documentation, the Auction shall be given reasonable time after receiving notice to have the error corrected.
Sellers have 10 business days to deliver title to Auction for any vehicle sold CTA. There is a charge for selling or returning a CTA vehicle.
Buyers of CTA vehicles should not spend any money on the vehicles or re-sell them until title is received from Auction. The Auction will not be responsible for transportation or other expenses of a returned vehicle.
Just because a vehicle is returned to the Auction it does not mean the Buyer is out of the deal. The vehicle must be received and checked in by Auction management before the Buyer will be out of the deal. Vehicles approved for return by Auction, must be checked in within 48 hours of notification from Buyer. Any vehicle returned must be in the same or better condition as when sold.
The auction will not be responsible for mailed titles that become misdirected or lost. A lost title is not a valid reason for a vehicle return.
The Buyer’s Fee and Title Attached Fee are retained by Auction on vehicle returned. Auction reserves the right to charge fee(s) against buyer and/or seller as relates to origin of problem. (Buyer or Seller is responsible)
Mileage Limitation – Buyer cannot put more than 500 miles on vehicle.
If, after 90 calendar days, Seller has not produced negotiable title and Buyer has not returned the vehicle, this title guarantee shall not apply and Auction shall have no duty to produce the certificate of title to the Buyer and shall have no duty to pay Seller.