Question hi richard.
is there an industry-wide policy, or specifically one for oklahoma, that is observed regarding the transfer of ownership from the person who's car is totaled in an accident to the insurance company paying the claim? (if it matters, the claim was paid by the other, 'at fault' persons insurance company, which is allstate, to a friend of mine) i'm specifically asking if the title has to be presented to the adjuster, either prior to or when recieving the check to cover the loss? or, if not the title, something that would resemble a bill of sale or some other form or document that would need to be signed to finalize the claim and officially relinquish ownership and make the vehicle theirs? or, is it possible that by simply cashing their check, you are agreeing to certain terms and conditions, with no further paperwork needed or any title being signed over to them (or and other 'title-like' paperwork, from a tag agency)?
to be brief, i agreed to buy a truck from a friend who was in an accident which wasn't his fault. the truck was totaled and he was presented with an amount(s) they'd pay on the claim, one with and the other without their taking possesion of the truck. i agreed to pay the difference in the two amounts, which i did, so i could get the truck for various parts i need for a truck of mine. well, a few weeks go by and i'm trying to get ahold of my friend (ice storm and power outages slowed that occuring) and, when i do, he says he has some bad news for me. he told me he got paid on the claim, which required only his being handed a check and turning in the rental car, and that he later (a week after recieving the check) found out the truck was not at the tow companies storage lot. he thought the truck would still be there, since no title was given to them and since he hadn't signed off on anything that would give either them the right to the truck or give him the impression he was no longer the owner. i told him that just the fact the check was for the higher dollar amount of the two amounts they'd originally given to him he should have taken as his first clue, but he said it just didn't register to him at the time. he's a long term friend and i'm trying to determine if he knowingly signed over the truck and accepted the higher $ amount and is lying to me. or, if it could be that by just the acceptance and cashing of the claim check, he would or could have signed the title over, without the title or proof of ownership having ever been given to and/or signed over to allstate. he doesn't have the money to pay me back and i would be more inclined to just let it slide if he (therefor me) is a victom of this situation, so to speak, for example by: not reading the fine print, or listening to the claims adjuster well enough, or ....(?) and didn't maliciously lose control of the truck. i have my opinions, but i would appreciate yours.
thanks in advance for any opinions/advice you have on this matter!
AnswerHi Randy,
Each state and in fact each insurance company has its own rules regarding transfer of title in a total loss situation. I am not specifically arare of the regulations in Ok. Generally though, it would require that the title or other ownership document be signed over to the insurance company before they would issue a check. This would even be the case if the owner were retaining the salvage. The insurance company would apply for a title in their name and then would sign the title back over to the original owner. (i do not know if this is required in OK. If there was a loan on the truck then it is possible the insurance company paid off the loan first and will obtain the title from the loan company.
If you are still interested in buying the truck, you may be able to contact the insurance company to see if they will let you buy the salvage. Some companies will let you do that.
I hope this helps
Richard Hixenbauh
