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If your car was repossessed during your separation but it was bought while you were married are you both responsible for the debt?
Wiki User
∙ 8y ago
Whomever signed the contract is responsible for the balance.
Wiki User
∙ 8y ago
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If spouse incarcerated and you want a divorce you were buying a house but the loan is not in your name but your name is on the title are you responsible for the house?
yes you are responsible for the payments because you are married it is a marital asset being bought after you were married so in a legal sense its in both your names regardless of the way its titled
Can you get a car back after it has been repossessed and sold?
The only way to get it back would be if it were up for sale and you bought it. Once it's legally sold, it becomes the property of the new buyer.
Is a new business owner responsible for the original owner owner's debt?
Not normally, unless the new owner has also 'bought' the previous owner's debts. However, if we are dealing with share ownership, the shareholder become the 'owner'. Shareholders are not responsible for the debts of the companies they have bought share in.
Is a joint mortgage needed for joint ownership?
Not necisarily. If you are married and the house was bought after the marriage then no. If you are married and the house was bought before the marriage and the person that did not originaly buy the house made one payment on it or you had a joint account that the payments came out of, then they are half owner. If you are just living together with no marriage, then the house it the person's that bought it, but you have to be carful of common law marriage.
When a home is foreclosed on who is responsible for paying property taxes?
Well, if the bank has forclosed they are but can seek the monies from the new buyers. If you bought the tax certificate then you do.
If spouse incarcerated and you want a divorce you were buying a house but the loan is not in your name but your name is on the title are you responsible for the house?
yes you are responsible for the payments because you are married it is a marital asset being bought after you were married so in a legal sense its in both your names regardless of the way its titled
If your wife bought a car before your marriage and now it is repossessed are you liable?
If it isn't in your name it shouldn't be.
Where can repossessed cars be bought?
Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.
Why does a car get repossessed?
The person who bought the car didn't make payments so the bank takes it back.
Can your wife claim for property bought after your separation?
She probably can especially if she proves that you bought it as a result of wealth accumulated during your union.
You bought a car that has a leinholder?
Get a hold of the lien holder then get a hold of the owner who has the lien against them. Otherwise you may end up responsible if you desire to keep the vehicle. If everything is valid and the payments are not made the car may be repossessed. Then you will have to take the other person to court. Tedious and not fun.
You owe money on a repossessed car but the car was refinanced to someone else do you still owe?
I believe you would owe the difference. If you owed 10,000 on the vehicle and it was repossessed and someone else bought it for 8,000 you would owe 2,000.
If you were married to a man before he bought a home and promised he would add your name to the document but didn't what becomes of you in case of separation or divorce?
for that it will be very cheap to take divorce u ask once again him to add ur name
Can you sell your car if it is being repossessed?
Depends on the specific laws of where you live. In general, if the car you bought is being repossessed because you cannot pay for it any more, consider selling it to someone who can. You basically sell the car at a really low price, practically just below the amount the you already spent on it. The person who bought the car from you, then would have to continue paying for the remaining balance to the dealer from where you bought the car. This way, you're credit won't go bad.
What are your rights when it comes to a car that just has a payment for half of the remainder owed and the private party it was being bought from has repossessed it for personal reason?
If the repossession occurred in a state that does not permit self-help repossession, report the car stolen; it cannot be legally repossessed. Louisiana and Wisconsin are two of these states. If you can show legal possession of the vehicle, and on time payment, report the car stolen. It cannot be legally repossessed in any state unless the debt is delinquent. If you do not wish to involve LEO's immediately, contact the private party who "repossessed" the vehicle and explain that if it is not returned within a reasonable amount of time, that you will report the vehicle stolen and give his name as the party responsible. There is no legal "personal reason" for repossessing a vehicle.
Can you take modifications off a car that will be repossessed?
you can take off all the modifications off as long as the car is the same when you bought in running conditions and looks as descent as possibble
Can your car be repossessed if you bought it from a dealership but never received a contract?
I really cant answer that, but in my opinion it would be smart to go back and see if you can get some kkind of proof of ownership
