There was a story a few years back that a man and his teenaged son rebuilt and restored a 60’s Mustang to like new condition, but when they went to have it registered found that it had been stolen like 30 years previous. The police impounded the car and it was returned to its original owner, since it was reported as stolen and there was no insurance claim against it. Had there been an insurance claim, it would belong to the insurance company..............................
What’s the legal recourse for the poor slob that payed top $$$$ for a vintage Mustang like you said. He could have paid $20-$50k but now is left without anything? THAT would seem like robbery!!!!
Sounds familiar and might be the 65 Mustang GT in this video. It was located 25 years after being stolen and returned to the owner. The last owner had installed a new engine and other upgrades. The rightful owner paid the prior owner for the upgrades saying “I’d have put that much money into it over the past 25 years anyway”.
https://www.youtube.com/watch?v=6XRE3yw-PdM&ab_channel=InsuranceCrime