If you are the sole borrower on a vehicle loan can the vehicle be titled in another person's name?

Answer 1

Although my husband is not a legal professional, he is a full-time real-estate professional. He said that in his opinion, a loan on a vehicle is a mortagage, and you can't mortgage property that belongs to another - thus to get a loan on a vehicle the title and registration must be in your name. The only accurate answer would most likely have to come from an attorney. States establish laws concerning the titling and ownership of motor vehicles. It is possible in most states to have a vehicle titled to a person who is not a part of the lending agreement. However, the lender will remain on the title as a lien holder until the contract is paid in full. Titling the vehicle to another person will not prevent the vehicle from repossession action if the lending agreement is defaulted. In addition, in all states the person who holds the title to real property is considered the rightful owner (with the exception of lien placements). Therefore, the borrower could be responsible for the debt but not have the use of the vehicle until (unless) the court ruled otherwise. MY EX IS THE SOLE BORROWER ON A VEHICLE LOAN AND THE VEHICLE IS TITLED IN MY NAME. I'M TRYING TO FIGURE OUT HOW I CAN GET THE VEHICLE TITLED IN HIS NAME INSTEAD SEEING THAT WE ARE NO LONGER TOGETHER. SO YES IS THE ANSWER TO YOUR QUESTION. YOU JUST HAVE TO SIGN A PAPER SAYING IT'S OKAY FOR THE LOAN BORROWER TO USE YOUR VEHICLE AS COLLATERAL AND THEY TRANSFER THE TITLE TO YOU INSTEAD OF THEM.