They say there are no stupid questions, let’d find out! If you have question you feel dumb about not knowing you can either suck it up and ask it here, or DM me and I’ll ask it for you anonymously.
My dumb question: Do I keep my car title in the car? Do I need to have it signed? If someone takes it and signs do they owe the bank the rest of what I owe on the car?
No, don’t keep the title in the car. Keep it in a lockbox, like where Al Gore would keep your social security money.
Depends on the title of your car. Is it a PhD?
the times I’ve had an auto loan, the bank always kept the title until it was paid off.
How does dry cleaning work?
I believe they just spray the clothes with a chemical mix that lifts residue out of the fibers without having to soak them.
Now Martinizing… That I have no idea.
Apparently Martinizing is just a franchise of Dry Cleaners because a guy with the last name Martin came up with a new fangled dry cleaning process in the 1940s.
You put money in when you’re admitted as a partner (usually over time). If you leave, you get the money back ± undistributed income or losses while you were a partner.
The whole, fall-back spring-ahead thing with the clock. Always zone out when it’s explained and can’t commit it to memory.
So it’s the farmers fault obv
To add on to bobman’s answer, in my firm (not a law firm but still a partnership) the firm will actually loan the buy-in money to new partners at a very low rate, who then pay off the loan over time. Usually the returns on stock in the partnership (called “units”) are greater than the interest on the loan, so you’re still making plenty of money.
The idea is to maximize the amount of sunlight hours during the, basically, business day. Started when there weren’t a lot of electric lights. Then morphed into “think of the children” who were going to school in the dark, now it’s just a way to confuse people and kill off the olds.
I was pretty close to a guy who made equity partner at Arthur Andersen right before they went busto. That was not good planning by him.
don’t have anything to ask yet but good thread imo
I recently got rid of a car that i had for 10 years, I had the title but there was a lien on it from the bank I had my loan with and in order to do a title transfer you need a release from the bank saying you no longer owe money on it. In order to get a lien release I had to fax some shit to an obscure department of the bank and wait for a letter to come back to me. The process was a joke, first i tried to do it online but that got nowhere, then I went to a branch of theirs to do it in person and they said nope can’t do it in person, then I had to call and go through 2 or 3 people to get a fax number
Things I Would Know if I Wasn’t Dumb.*
*unless the title is intentionally dumb, in which case I am the dumb one.
I don’t really understand the whole title thing for vehicles in the US. No such thing here. We just have a registration. When I’m down there I see all these title shops. What do they do?
Offer incredibly predatory loans with the car as collateral.
at the risk of sounding stupid myself, as far as the title shops go, they are basically scum lenders, you give them your title and they give you a loan, basically just using your car as collateral, at insane interest rates and then they take your car when you can’t pay.
what otatop said
If you sell your car do you have to go to them?
You guys also have weird shops like this for house sales I think?
nah they just operate to prey on people with no other options for loans. Nothing like this for house sales though, unless you just mean normal mortgage companies.
when you buy a house, if you get a mortgage the lender will require you to buy title insurance (and even if you buy the house with cash it’s probably a good idea). Basically the title insurer does some research to make sure there’s “clear title” (i.e. the person you’re buying the house from actually owns it). Localities will “record” real estate transactions but they don’t actually police who owns what property so title insurance protects you if some bozo from 100 years ago surfaces with a claim to the property.
(this is overly simplified and I probably left some stuff out but that’s the basics of it, essentially in a normal society this would be some sort of function of (local) government but USA#1 so the local governments half ass it and only do enough to figure out who to send property tax bills to but not enough to guarantee anything).