Best Answer

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.

How do you cancel equipment lease?

The procedure should be listed in your contract.

What is meaning of initial contract price of civil engineering project?

The Initial Contract Price is the Contract Price listed in the Procuring Entity's Letter of Acceptance.

Can a private citizen hire a repo man?

Yes. However, all t's must be crossed and all I's must be dotted for them to even talk to you. There are numerous things that must be in order for a repoman to pick up a vehicle. Was there a written contract stating that you could repo the car if pay,emts weren't made? Are you listed as a lienholder on the title? What are your state's requirements for repo? All these things must be considered before calling the repoman.

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

If you have renigged on paying your portion of the car bill, yes.It doesn't matter who he is. The fact is...he cosigned for you. But, you can contact your consumer affairs bureau and see if they have a brochure on vehicle repossession. Ps Your ex bf sounds tons nicer than any of mine. He can't "repossess" because he is not the lienholder. If he is listed on the title as a co-owner, he has the same right of possession that you have and could insist on "taking his turn". But if he is only a co-signer on the loan, the only "right" he has is to make the payments if you don't. If he has had to make some of the payments for you, he could sue you for reimbursement.

How do you find out if a car in your shop is in repossession status?

If a repossessor comes in with paperwork showing an order to repossess, you should be able to call the listed creditor and verify it.

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?

You have signed a contract. You may have cancellation options listed in the contract, but generally once you have signed a contract, you are bound by that contract. You need to review the contract to know for certain.

Can you draw or advance with mt760?

It depends on the condition and warranty listed on the contract of MT760.

How do you find out how much your annuity is worth?

Contact the issuing company as listed in your contract.

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


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?

The social contract theory is not listed by name in the US Constitution, though it is inferred in the Preamble to the US Constitution.

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

ANYONE who's name is on the loan contract is responsible for the debt. Who will sell someone a car and that someone NOT be responsible for paying?? NOT ME LOL

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

Usually, not in and of itself. A mortgage will require that the borrower maintain physical damage protection on the structure. It does so to protect its interest in the house, because the loan is secured by the house. Therefore, if a casualty destroys the house, in whole or in part, the lender wants to make sure that it is repaired so as to preserve its value. If homeowners insurance is dropped, or it lapses for nonpayment of premium, the insurer will notify the lienholder of that fact. The lienholder will require the borrower to produce proof of replacement coverage within a given time period. If the borrower does not, the lienholder can get "single interest" coverage. This is a kind of policy covers only the lienholder's interest in the property. The premium for that coverage is initially paid by the lienholder, but then added to the mortgage balance. Dropping your home Hazard insurance is one of the listed default conditions of your mortgage contract, but usually will not cause a foreclosure proceeding to initiate. It can however be the first sign that a foreclosure is imminent.

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?

The Verizon iPhone 4 is listed at $449.99 when purchased without a contract. When one signs a 2 year contract, however, one can receive the phone free.

Can the terms of a contract still be enforced after the expiry of a contract?

If one of the parties has not completed their obligations, yes. Even though a contract has expired, the final payments still need to be made. And there are clauses listed in most contracts that extend past the life of the contract, such as confidentiality and indemnification.