South Trust Bank, Alameda, CA - 2001 BMW X5 lease - South Trust insists that pay $1,400.86 for the 2004 Fairfax County property taxes which have not been billed yet to the bank

South Trust Bank, Alameda, CA - 2001 BMW X5 lease - South Trust insists that pay $1,400.86 for the 2004 Fairfax County property taxes which have not been billed yet to the bank

auto lease

South Trust Bank , Alameda

The lease on my 2001 BMW X5 is up May 15, 2004. We are responsible for property tax payments. We have paid all taxes through 12-31-2003. The amount for 2003 was $1,003.00 and was paid to South Trust when due. I now have a buyer for the vehicle who will pay the full residual to South trust.

South Trust now insists that I pay $1,400.86 for the 2004 Fairfax County property taxes which have not been billed yet to the bank. I spoke with the county and my pro rated share of the estimated (not Billed ) taxes will be $255.00. South Trust will not discuss the issue and insist the amount must be paid prior to passing title. They said when the tax bill arrives (next September) I will receive a refund if one is due.

To complicate matters I have in my possession 2 letters regarding this issue each issued within 10 days of each other One request the $1,003,00 which was last years full year tax the second demands $1,400.86. I did speak with one person in the tax section who no longer will speak with me.

In our conversation he acknowledged the lease provided for property taxes in the last year to be paid at lease end pr after lease is over because in most cases the Bank does not know the amount of tax when the lease ends.

He then admitted that their legal people said it was okay to change the terms of the agreement and demand the taxes in advance. When I said that was an unallowable change to the contract he said his lawyers were right. When I have inquired as to interest on my $ no one will discuss that issue. The buyer wants this car so bad he will pay the taxes and wait for the refund.

I think this Bank is ripe for a class action law suit. If anyone is interested lets discuss, engage an attorney and go after these guys. I will provide account # and copies of letters upon request.

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