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If you don't have a "contract", you aren't a leinholder. A lienholder must have a contract and have filed the notice with the county recorders office and the title must state you as the leinholder.

If the person is named on a title as a lien holder he or she has the legal option of repossessing the vehicle as it is determined by the laws of the state where the vehicle is registered.

2015-07-15 20:58:56
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Related Questions

When can a bank repossess someones car?

As long as the bank is listed as the lienholder on the title and as long as you owe them money and haven't paid they can repossess the car.


When can a car be repossessed in Texas?

In most instances when you get behind on your payments. The exact details of when the lender will repossess the vehicle is listed in the contract you signed when you took out the loan on the vehicle. Read your contract with the lender.


Do they have to send you a letter to let you know your car payment is due?

NO, you know when your payment is due. It is listed on the contract you signed. Miss a payment and they can repossess your car then next day.


How do you repossess a vehicle in Texas when the purchaser has sold the car to a third party before payments were made in full and are now delinquent?

Are/were you listed on the TITLE as leinholder? Do you have a written contract listing the vehicle as collateral? If no to these two uestions, you should call a local attorney NOW.


Can a bank repossess a car or sue someone with whom they have a signed contract even though the car owner has a clear title for the car?

YES, the contract is what they sue for unless the car is listed as COLLATERAL for the loan. Then they repo the car and sue ya.


Can you have a co-signer removed from a title after the car is repossessed?

AnswerIf the primary on the contract does not pay then the lienholder comes after the co-signer for the payment. The credit of both the primary and co-signer are going to show repossession. If the lender has kept the title in its files as part of the loan process and is listed as a primary lienholder, it can sell the vehicle after the repossession.


How do you contract to sell a car for which you are being paid for over time?

Basically, you are financing the vehicle, right? Put a lien on it. All you have to do is fill out a bill of sale and there will be a place for you to list a lienholder. Fill in your information there. There will also be a place for you to put lienholder information on the title, so make sure you fill that part in also. When the buyer takes that to the highway dept to register it, the hwy dept will keep that and give them a registration. After about 2-3 weeks, you should receive the title in the mail with you listed as the lienholder. After you are paid in full by the buyer, then you will sign off as lienholder and give them the title.


What if vehicle owner allows insurance policy to cancel and purchases new policy without lien holder listed?

When you purchase a vehicle and fiancé it you sign a contract stating that you will carry certain insurance coverages and provide the finance company with the proper notification of such coverage. If you let your policy cancel you have violated the contract. If you do not list them as lienholder on your insurance policy you have also violated the contract. If you do not fix this situation when you finance company send you letters about this they have the right to repossess your vehicle and screw your credit up for life. You have obligations and the finance company has obligations under these contracts. If you have period of time when you cannot prove you have insurance then they will put forced place coverage on your vehicle to protect themselves and will charge the premiums to your account.


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.


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Can your ex-boyfriend who is a cosigner repossess your car?

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How long do you have after signing a use car contract to change your mind There was no purchase yet and the car is still on their lot?

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I hold the security interest on a vehicle. How can I repossess this vehicle?

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What happens if you contract to buy a car and the seller sells it to someone else for a higher price?

Depends on the contract. Check to see what penalties are listed for defaults.


Where in the constitution does it list the social contract theory?

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If two buyers are listed on car contract but no co-signer is listed will second buyer be responsible in repossession?

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Does it mean you default on your mortgage if you drop your homeowners insurance?

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How long is a real estate listing?

The length of time your property will be listed depends on your contract with your agent.


How much does the Verizon iPhone 4 cost without a contract?

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