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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.

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โˆ™ 2015-07-15 18:35:14
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Q: Can you repo a car if the title is in the buyer's name already and they default on the payments?
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Should your parents have you on the title of their house to avoid forced sale?

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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.


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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.


Can a person in Texas repossess a car if she is making payments but is not on the car title and feels that she has already paid enough into the car?

Sure, you just lose the car.


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

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