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A logbook loan is a form of secured lending in the United Kingdom and is the most common modern example of a security bill of sale. Borrowers transfer ownership of their car, van or motorcycle to the logbook lender as security for a loan. While making repayments borrowers keep possession of their vehicle and continue to use it.
In the UK the document is the V5C, also commonly called the "log book". [2] The document is issued by the DVLA and tracks the registered keeper of the vehicle. When a vehicle is transferred, exported, scrapped or had major modification (new engine, chassis or factors affecting the taxation class) the form is returned to the DVLA with details of the required changes, who then issue a new ...
The current version has the reference number V5C. Prior to computerisation, the title document was called the 'log book', and this term is sometimes still used to describe the V5C. The V5 document records who the Registered Keeper of the vehicle is; it does not establish legal ownership of the vehicle. These documents used to be blue on the front.
In the United Kingdom, a vehicle registration certificate (V5C) and service history is often referred to as a "logbook". [11] A race car log book is a document certifying that a car is prepared to a given set of rules and is safe for competitions. Lab notebooks and electronic lab notebooks are used in research and scientific settings.
A log book is simply a notebook with a grid pattern on every page, dividing the 24-hour day into 15-minute (1/4-hour) segments. Drivers are required to make carbon copies of each page, so one page may be kept with the driver (to be produced upon inspection by DOT officers), and so the other copy may be sent to the driver's employer.
Laws governing the conveyance of land and that of movable personal property then developed along different paths. [ 4 ] In modern legal systems derived from English common law, the classification of property as real or personal may vary somewhat according to jurisdiction or, even within jurisdictions, according to purpose, as in defining ...
A deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings.
Items such as personal mementos, writings, personal diaries, plans, portraits, photographs, memoirs and the like, which have no intrinsic market value pose a difficulty. Usually the court will try to develop a method to arrive at a reasonable value for such an item.
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