PREAMBLE & STATUTORY STATEMENT OF AUTHORITY
This regulatory disclosure governs the precise legal mechanisms, chain-of-title verification protocols, encumbrance discharge criteria, and fiduciary conveyance standards enforced by Dealer Auto Group (operating as Dealer-Auto.com, DEALER DIRECT AUTO INC, and DEALER DIRECT AUTO INC under Florida Wholesale Independent Motor Vehicle Dealer License #7134933).
Every motor vehicle, commercial transport unit, or liquidation asset cataloged on this platform is processed through standardized legal channels prior to buyer release. The term “Released Liquidation Unit” signifies that the underlying asset has completed mandatory pre-sale title auditing, lienholder satisfaction validation, and legal authority verification, ensuring that the buyer receives a 100% clean, unencumbered, and registrable title in any of the 50 United States.
ARTICLE I: STATUTORY CLASSIFICATION OF ASSET RECOVERY CHANNELS
Section 1.01 — Commercial Lending Bank Repossessions (UCC § 9-610 Foreclosure Sales)
Vehicles acquired through secured lender default recovery are processed pursuant to Part 6 of Article 9 of the Uniform Commercial Code (UCC § 9-610 “Disposition of Collateral After Default”). Prior to listing authorization, Dealer Auto Group verifies:
- Notice of Repossession & Right to Redeem: Verification that the financial institution provided statutory notice of default and redemption rights to the debtor under state law.
- Lien Satisfaction & Discharge Documents: Execution of State Form HSMV 82260 or equivalent state-specific Lien Satisfaction Certificate signed by an authorized officer of the lending bank.
- Affidavit of Repossession: Verification of sworn Repossession Affidavit attesting to lawful, peaceful physical recovery without breach of the peace (UCC § 9-609).
- Clean Reassignment Authority: Validation of the bank’s power of attorney or reassignment endorsement conveying the certificate of title to the liquidating broker desk.
Section 1.02 — Chapter 7 & Chapter 11 Bankruptcy Estate Sales (11 U.S.C. § 363)
Assets originating from United States Bankruptcy Courts are conveyed pursuant to Section 363 of Title 11 of the United States Code (11 U.S.C. § 363 “Use, Sale, or Lease of Property”). Title conveyance for bankruptcy estate assets requires strict adherence to federal bankruptcy procedure:
- Order Authorizing Sale Free and Clear: Obtaining an executed Bankruptcy Court Order signed by a U.S. Bankruptcy Judge ordering the sale of the asset free and clear of all liens, claims, rights, and encumbrances pursuant to 11 U.S.C. § 363(f).
- Trustee / Receiver Certificate of Sale: Formal execution of a Trustee’s Bill of Sale or Certificate of Assignment by the appointed Chapter 7 Trustee or Chapter 11 Receiver.
- Certificate of No Objection: Verification that the statutory 21-day notice period to creditors elapsed without pending objections or that an emergency court decree expedited the conveyance.
- Extinguishment of Subordinate Liens: Statutory confirmation that all junior liens, tax claims, and municipal assessments are attachment-transferred to net sale proceeds rather than remaining attached to the vehicle.
Section 1.03 — Corporate Fleet Decommissioning & Lease Return Parcels
Fleet vehicles released from commercial leasing companies, corporate restructuring, or fleet turnover undergo corporate authority verification:
- Corporate Resolution & Incumbency Certificate: Documenting the legal authority of the corporate officer executing title reassignment.
- Master Lease Termination Agreement: Written confirmation of lease payoff and absolute release of lessor security interests.
- Federal Odometer Disclosure Statement: Conforming to the Truth in Mileage Act (49 U.S.C. § 32705) with mileage certified as actual mileage.
Section 1.04 — Fiduciary Probate & Estate Administration Conveyances
Estate vehicles conveyed by probate administrators or court-appointed executors require verified court filings:
- Letters Testamentary / Letters of Administration: Certified copies of probate court appointment granting legal authority to transfer estate personal property.
- Inheritance Tax Clearance Certificate: Verification that state inheritance or estate tax claims do not attach to the vehicle title.
ARTICLE II: MANDATORY TITLE CHAIN & PAPERWORK AUDIT PROTOCOL
Prior to disbursing buyer funds out of escrow, Dealer Auto Group’s legal desk performs a mandatory 10-point document audit. The transaction will NOT close unless all 10 legal requirements are satisfied:
ARTICLE III: PROTECTED BANK ESCROW & SETTLEMENT GUARANTEE
All transaction settlement funds are secured in a neutral, FDIC-insured escrow trust account. The escrow mechanism enforces strict conditional disbursement criteria:
- Conditional Payout Hold: No funds are disbursed to the selling bank, trustee, or liquidator until state DMV title documents, physical gate release passes, and CARFAX reports are verified.
- 100% Escrow Refund Guarantee: If any underlying title document, receiver decree, or DMV lien release fails legal verification during escrow, 100% of buyer funds are returned immediately without deduction.
- Gate Release Authorization Pass: Upon escrow funding confirmation, the buyer receives an official Gate Release Pass authorizing physical pickup at the holding yard or dispatch to a FMCSA-licensed carrier.
ARTICLE IV: TITLE CLEANUP WARRANTY & BUYER INDEMNIFICATION
Dealer Auto Group warrants that every vehicle sold through our brokerage desk is conveyed with marketable, transferable title. In the unlikely event that a state DMV refuses registration due to a pre-existing lien, prior court defect, or paperwork error originating prior to sale, Dealer Auto Group agrees to remedy the title defect at its sole expense or issue a full transaction refund upon return of the vehicle.