Repossession
Contract Law

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?

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Answer

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Wiki User
12/26/2006

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.