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potentially, yes; consult a lawyer

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โˆ™ 2008-02-07 06:50:45
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What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

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Q: Could a vehicle be repossessed without a written contract?
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Does the person holding the note have to provide written notice that the vehicle is to be repossessed in Texas?

A written note


Can a vehicle be repossessed by the lien holder for not having insurance in the State of Maine?

Yes, if the contract requires that the borrower carry insurance coverage. If the borrower fails to adhere to any of the requirements stated in the written agreement the contract is in default and the lender has the legal right to recover the vehicle.


Can a vehicle still be repossessed if written off?

Yes most likely. If the lender is still on the title, if not then they cannot, without some sort of court order.


Can you repossess a car which you sold to a friend with a written contract stating that if payments are not made as agreed car will be repossessed?

YES.


Can a vehicle be repossessed in the commonwealth of Virginia without any type of written or verbal notification because you are one payment behind on a note you've paid 45 of the total 50 payments?

Yes. Once you have forfeited on the contract, it is void. The lender at that point can legally expect payment in full. Toward that end, they may take the vehicle and sell it to pay a portion of the balance.


Can my vehicle be repossessed for no insurance?

It is not outside the realm of possibility; however, it would need to be a provision in the original sales contract. Since all of the US states require insurance of some sort on all vehicles, it is possible that a lender has written this in to the contract. It would protect their collateral in the event insurance lapsed.


Can you repossess a vehicle that you sold to a friend if you have a written contract for the sale of the vehicle?

yes, you are in a legally binging contract if you are both over 18 years of age and are therefore able to repossess the car.


What rights does a co buyer have to a vehicle?

The co-buyer of a vehicle has equal rights to the vehicle if there name is on the title. The co-buyers rights can be defined by a written or verbal contract.


After your vehicle is repossessed and the car has been auctioned off can arrangements be made for the remainder of the loan balance?

The vehicle was repossessed for non-payment of the lease, correct? You still owe all the money to the lender, even though you no longer have the car. You signed a written agreement with the lender promising to pay a certain amount each month for how ever many months were in the lease. You breached that written contract by not paying the monthly lease - Just because the car is taken away from you does not absolve your financial responsibility to pay for the remaining parts of the lease.


Can you get your car back if it is repossessed and they don't provide written notice of seizure in California?

If you weren't paying the bill and the courts awarded the vehicle to the lender, it's gone.


Can a cop search your vehicle without written consent?

Certainly. In many cases written consent would be difficult.


If a contract is changed without the knowledge of the guarantor is it valid?

A contract is valid when there is a meeting of the minds. Once a contract is signed, it cannot be changed unless written as an addendum and signed by all parties concerned. A verbal agreement cannot override a written agreement.

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