Equity Skimming of a Vehicle can be charged as a felony in Denver and throughout Colorado. Several instances involving private car sales can lead to trouble if care is not taken. If you decide to sell your car to someone else without permission because you can’t afford the payments, or you neglect to pay the owner of the car the money received from selling or leasing the car, charges of equity skimming can result. Don’t face this severe of a charge without help, contact a skilled defense lawyer to defend you today.
Definition of Equity Skimming of a Vehicle | Denver Attorney
Equity Skimming of a Vehicle C.R.S. 18-5-803 is defined as:
A person commits equity skimming of a vehicle if, knowing the vehicle is subject to a security interest, lien, or lease, he accepts possession of or exercises any control over the vehicle in exchange for consideration given which may be verbal assurance or otherwise, and;
- Obtains or exercises control over the vehicle of another and then sells or leases the vehicle to a third party without first obtaining written authorization from the secured creditor, lessor, or lienholder for the transaction of the sale or lease to the third party, unless the entire balance of the security interest, lien, or lease is paid or satisfied within thirty days of said transaction; or
- Arranges the sale or lease of the vehicle of another to a third party without first obtaining written authorization from the secured creditor, lessor, or lienholder for the transaction of the sale or lease to the third party and exercises control over any part of the funds received, unless the entire balance of the security interest, lien, or lease is paid or satisfied within thirty days of said transaction; or
- Knowingly fails to ascertain on a monthly basis whether payments are due to the secured creditor, lienholder, or lessor and to apply all funds he receives for any lease or sale of the vehicle toward the satisfaction of any outstanding payment due to the secured creditor, lienholder, or lessor in a timely manner.
Denver Attorney for Equity Skimming of a Vehicle
In Denver and across Colorado, Equity Skimming of a Vehicle is a class 6 felony. These steep consequences need an expert lawyer’s help. The incarceration possibility is up to 18 months in the Department of Corrections. A financial burden of up to a $100,000 fine is also possible if convicted. It is not wise to face these charges alone.
If you or someone you know is caught up in an Equity Skimming of a Vehicle charge, it is time to act. Call our experienced criminal defense attorneys at Sawyer Legal Group at 303-731-0719. Together, we can protect your future.
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