Quantcast
answersLogoWhite
notificationBell

Top Answer
User Avatar
Wiki User
Answered 2015-07-15 18:35:14

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.

001
๐Ÿ™๐Ÿฟ
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0
User Avatar

Your Answer

Still Have Questions?

Related Questions

Should your parents have you on the title of their house to avoid forced sale?

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.


What do you need to repossess a vehicle in Nevada?

You have to posses the title on the vehicle and the documentation that there is a default in payments.


When do you get the title once payments are finished?

Usually 2-3 months. And it's not the title, you already have that, you get a release of lien.


Can a car be protected from creditors if it is in default and the title is transferred to someone else?

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.


How do you get a car back when the buyer has missed two payments if you are a private party and do not have the title but do have a bill of sale?

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.


Cosign for a car loan which gets paid off the title goes to?

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.


What is the default border color around a chart title in Microsoft Excel?

By default there is no border around a chart title. When you do set a border the default colour is black.


Can you sell a car or cycle when you still make payments on it and you don't have 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.


If you are on the title with the primary buyer can you get the car and not make payments?

Either party ON THE TITLE is entitled to possession, but someone will HAVE to make payments or it will be repoed.



What happens when you default on your loan and the insurance company pays out on your loan?

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".



If primary owner and cosigner have both their names on the title and primary doesn't pay the payments can you repossess the vehicle The title says or on it.?

If there are two individuals listed on the title of a vehicle as primary and joint, they are both responsible for the payment of the loan. If the primary defaults on the payment, the joint owner is responsible for payment. If both parties default, the vehicle can be repossessed.


Can you insure a car that you are paying payments on until its paid for from a private owner who holds the title?

I would insure any car that I was driving or making payments on. If you are on the title then you are an owner.


Car not paid for but i have car title?

You have the title, but I bet on that title the lender you own money to is listed as the lien holder. He can repossess the car at any time if you miss payments. Having the title means nothing.You have the title, but I bet on that title the lender you own money to is listed as the lien holder. He can repossess the car at any time if you miss payments. Having the title means nothing.


Can I put a lien on a car title I'm selling if the buyer is making payments to you?

You can if you listed yourself as the lien holder of the car at the time you transferred the title to the person making payments. If you did not do this at the time you transferred them the title, you can not legally do anything.


Who holds title of a private party sale while still making payments?

The private seller holds the title until paid in full, he should transfer the title to private buyers name and place a lien on title then the title will be mailed back to the private seller and once vehicle is paid the seller signs off on the lien and mails the title to the buyer. A contract/bill of sale should be signed by both parties to the payment agreement established for the protection of both parties.


Does the co-buyer name appear on car title?

Yes the co-buyers name does appear on the title, but not on the vehicle registration.



Can your car be repo'ed if you have the title?

IF your vehicle is collateral for loan in DEFAULT, it CAN be repoed.


What is the default slide layout in PowerPoint?

The Title Slideslide oririentation



The default slide layout for PowerPoint is?

Blank with a title and a sub-heading.


Can a private party sell a used car to someone who promises to make payments over time and keep the title until those payments are made?

That would be an agreement between buyer and seller. I cannot advise you against this enough.Buyers may be hard to come by, but wait around until you get a cash buyer who'll come and buy it outright.


If someone is subleasing your car and hasn't been making payments can you have a repo agent get the car and could the subleaser sue you if you do?

READ your contract. Sub leasing might put YOU in DEFAULT. Is the lease in writing???Is YOUR name on the title? IF so, go get your car.


Still have questions?

Trending Questions
What are fat burning foods? Asked By Wiki User
What is half of 16? Asked By Wiki User
Do potatoes have genders? Asked By Wiki User
Unanswered Questions