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Perhaps this is true in America where apparently you still have a paper title to indicate ownership?? But under commonwealth law "title" is a legal concept, not
by WheatMillington 4y ago
Perhaps this is true in America where apparently you still have a paper title to indicate ownership?? But under commonwealth law "title" is a legal concept, not a physical document, and can't belong to anyone except the rightful owner. An asset can be used as security collateral without the ownership changing hands.
- JohnFen 4y agoI believe in most states (I know in mine), there is no longer any paper that you can hold that makes you the owner. The title is just a document showing that you are the owner registered with the motor vehicle department. It doesn't grant you ownership.