Here's some good news

[crustycurmudgeon]

http://news.yahoo.com/s/ap/us_recovered_van

Apparently, they're unable to find the original owner, and the van now belongs to Allstate Insurance.

I'm curious, in a situation like this where the ins. co. paid the claim and the vehicle is found years later, does the original owner have the opportunity to buy it back for the original claim amount, plus interest?

It's been fully restored while missing, too. :ecit

Frank

 

[AzPete]

I believe the original owners can deal for it if the ins. locates them. The ins. co. will make more from selling it outright.

 

[tarafied1]

a few years back I saw a 69 Vette get returned to the original owner. It had been stolen in 70 and found in a container like the van. The owner gave it to his daughter. It too had undergone some changes but was in great shape when recovered.

 

[AzPete]

Yep, I remember reading about that Vet.

 

[daveSanborn]

does the original owner have the opportunity to buy it back for the original claim amount

Not according to my insurance company (State Farm).

Mt first Mustang project was stolen approx. a year after I finished it. When accepting the check from State Farm I learned that even if the car were to be found within the next couple of weeks/months, it would not be "returned to me". One of the documents I had to sign was title transfer paperwork. If the vehicle were to be recovered, it would become their property and go to public auction. I remember asking if I would be notified if the car was recovered.... they said "no". Then how would I know when the auction would take place? They told me to keep checking the newspapers for any public auctions....

Sure, for the rest of my life I'll read the public auction's section of the entire nation hoping to see the car listed.

The only way I could have retained any rights to the vehicle was if I refused to accept their check, which after taking everything into consideration, I didn't.

Which if I remember correctly... was what the owner from the aforementioned 'vette story did. He refused the insurance companies check and the car was eventually recovered and returned to him.