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Originally Posted by jman5581
Is there some kind of "title company" equivalent for horses? Maybe Chuck can answer that because he buys horses pretty often. Seems like someone ought to be checking the "title" to see if there is a lien just like one would do for a house, or a car.
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I've never seen the practice of one checking with the county clerk for judgments & liens on a seller of a horse. (I've always felt in my very brief employment dealing in blood-stock that the industry would be better served acting in the matter of real estate transactions and this is a good example of that) I'm sure Reddam's attorney's are now searching for when, in fact, a judgment was filed and if it occured before or after the sale. Every action also has it's own set of rules as well. For example, Mortgage Foreclosures and Tax Foreclosures differ in what liens they are superior to etc.
I gather that Reddam notified the Jockey Club of his new ownership and at that time there was no question as to the owner of the horse on the registry. One would think that a judgment holder would notify the Jockey Club of any claim they are making on the horse, but I'm not entirely certain if that is the case.