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EQUITY SKIMMING OF A VEHICLE

Equity skimming of a vehicle can be a serious charge, requiring the services of an esteemed Denver criminal defense lawyer.

Depending upon the circumstances of the case, a person can be charged with equity skimming of real property if the individual, knowing the vehicle is subject to a security interest, lien, or lease, 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 and then sells or leases the vehicle to a third party without first obtaining written authorization from the secured creditor, lessor, or lienholder; 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; or,
  • Fails to ascertain whether payments are due to the secured creditor, lienholder, or lessor and fails 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.

Equity skimming of a vehicle is a class 6 felony.

If you or someone you know is being charged with equity skimming of a vehicle, it is important that you talk to a Denver criminal attorney immediately. Contact a trial tested, result oriented Denver criminal lawyer at Newell & Decker today to discuss the case.