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Does the lender have to have a lien on the title to repossess?
Wiki User
∙ 16y ago
No, they just have to have proof you borrowed money and used the car a collateral for the loan. The contract you signed promising to pay them back is that proof.
Wiki User
∙ 16y ago
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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.
If you have the title to your vehicle can the bank still repossess it?
If there is money owed to the lender with the vehicle used as collateral, the lender will be shown as a lien holder on the title and can if the contract is defaulted recover the vehicle according to the laws of the state in which it is registered. yes
Can you legally repossess your car with a lien on the title?
That is the only way you can repossess a vehicle. Repossession comes under the UCC which grants a lienholder the right to repossess but only if they have perfected their lien by filing it on the title. One caveate is in most states the lienholder can not repossess a vehicle that is under a mechanic's lien without first paying that lien.
Can a lien holder repossess your car if you have a clear title?
sure can if they have a title too
Can a debt collector repo your car is they are not lienholder on title?
No. To be able to repossess any of your property, they must hold a lien on it. If they have no lien on it, they have no right to repossess. Their only option is to take you to court.
In Missouri how can you repossess your truck if your parents have it stored and refuse to give it back and there's no title or proof of ownership?
The lender files a WRIT of REPLEVIN and the sheriff goes out and gets the car. IF the lender has a lien on the truck,ect. All that legal stuff. LOL
Who gets money when there's a Vendor's Lien on title?
Lender or Beneficiary
How can you get a title to a car that was charged off?
You contact the lender who has a lien on it and purchase it from them.
Does the lien holder have the right to repossess your car if you left on a handshake and you had no contract and it was a private lender?
Yes. If the lien is valid, a written contract is not necessary and the holder can legally repossess the vehicle in conjunction with the existing laws of the state in which the vehicle is located or in some cases where it was sold.
How do you sell a car if the money from a private party will be used to cover what you owe on the title?
Take the buyer & title to the car with you to the lender that holds the lien on the vehicle. Use the money he is paying you to pay off the loan and get a lien release from the lender. Sign the car over to the buyer at the lender's place of business. Take this lien release and the title with you and the buyer to your DMV, and transfer the car into the buyer's name.
If the lien holder was supposed to repossess a motorcycle but never did can you sell it and how do you obtain a title?
No. A vehicle cannot be sold without a clear title and the only way to obtain such a document is through the lien holder.
How do i sell a wrecked car i still owe money on?
You cannot sell a car you have a loan on if the lender has a lien on the vehicle. You will need permission from the lien holder to sell the car. If the lender has no lien on the vehicle then you can sell it if you wish. The title will list any lien holder.
