Wausau, WI

Buying Used Landscape Equipment? Watch Out for Liens

Key Points:

– When purchasing used landscape equipment, it is important to be cautious of any existing liens on the equipment.
– Blanket liens are common in the industry and can go back a long way, making it essential for buyers to do their due diligence.
– To protect your business, consider the following tips before purchasing used landscape equipment:
– Conduct a thorough background check on the seller to ensure their credibility.
– Request documentation, such as lien release certificates or proof of ownership, to verify that the equipment is free from any encumbrance.
– Consider hiring a professional title search company or a lawyer to conduct a comprehensive lien search.
– Avoid buying equipment at auctions without proper documentation and verification of liens.
– If a lien is discovered, negotiate with the seller to either release the lien or offer a reduced price to compensate for the encumbrance.
– By being vigilant and taking these precautions, businesses can protect themselves from potential legal issues and financial loss when buying used landscape equipment.

In Conclusion:

Purchasing used landscape equipment can be a cost-effective solution for businesses, but it is crucial to be aware of any liens that may be attached to the equipment. Conducting thorough research, requesting proper documentation, and enlisting professional help if needed can help businesses ensure that the equipment they are buying is free from encumbrances and protect them from potential legal complications.

https://turfmagazine.com/buying-used-landscape-equipment-be-leery-of-liens/