Texas Leasing and Automobile Finance Companies Could be Forced to Pay Red Light Camera Fines or go Bankrupt!

Federal Appellate Courts are ruling in favor of plaintiffs in red light camera ticket cases on the grounds of ownership. The law reads that registered owners are responsible for the tickets. In many Cases vehicles are leased or financed and the owner of the vehicle is a financial institution of some type. Due to the rulings Texas Cities are in  fear they will be forced to pay back every fine that has been collected since day one when the cameras were introduced in their regions.

The flip side of this issue is that if courts rule the drivers are the legal owners then the leasing and financial institutions backing the notes may be forced to send the drivers titles to the vehicles which would make the financial agreement between the borrower and the lender null and void. No court can enforce this law without supplied documents by the state proving you are the legal owner of the vehicle, meaning the Title to the vehicle would have to be in the drivers name.

Drivers in the State of Texas who have financed or leased vehicles would get a free automobile. The financial lenders and leasers for automobiles in the State of Texas stand to go bankrupt if the courts rule the driver is the legal owner.

$75.00 for the automobile above seems like a fantastic deal for Texas consumers!

Check Related Story  http://www.banthecams.org/


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