IF they are in DEFAULT of a contract, you can repo the collateral for that contract,IF the contract specifies repossession as a penalty for DEFAULT. If the contract doesnt specify the penalties for default, then you should go to the replevin process. Consult a local attorney with your contract for state specific advice.
If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.If your parents granted a mortgage and then default on the payments, adding you to the title after granting the mortgage will not stop a foreclosure.
You have to posses the title on the vehicle and the documentation that there is a default in payments.
Usually 2-3 months. And it's not the title, you already have that, you get a release of lien.
Your creditor most likely holds the car title and/or there is a lien on your title. So, you will be unable to transfer title without paying the lien. The easiest thing to do is to bring your payments up to date and then to sell the car if payments are too high for you to manage on a regular basis.
The person whos name is on the TITLE as OWNER gets to keep the car IF no one has it as collateral for a loan in DEFAULT.
The cosignatory of a promissory note agrees to pay if the person signing the note defaults. If he doesn't default, but completes payments then he also gets the title.
Yes. Im not 100% sure how the process goes,but the sellerwill have to notify his/her lender or whomever of whats going on. Buyer will provide payment and i believe your lender will forward the title to the buyers lender.
By default there is no border around a chart title. When you do set a border the default colour is black.
In most places the money goes to the BANK! Their name is on the title of the vehicle until you make all your payments and they sign a "release of lein".
Sure, you just lose the car.
Either party ON THE TITLE is entitled to possession, but someone will HAVE to make payments or it will be repoed.
title