Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.
If it isn't in your name it shouldn't be.
yes you are responsible for the payments because you are married it is a marital asset being bought after you were married so in a legal sense its in both your names regardless of the way its titled
The person who bought the car didn't make payments so the bank takes it back.
She probably can especially if she proves that you bought it as a result of wealth accumulated during your union.
I believe you would owe the difference. If you owed 10,000 on the vehicle and it was repossessed and someone else bought it for 8,000 you would owe 2,000.
Get a hold of the lien holder then get a hold of the owner who has the lien against them. Otherwise you may end up responsible if you desire to keep the vehicle. If everything is valid and the payments are not made the car may be repossessed. Then you will have to take the other person to court. Tedious and not fun.
for that it will be very cheap to take divorce u ask once again him to add ur name
Depends on the specific laws of where you live. In general, if the car you bought is being repossessed because you cannot pay for it any more, consider selling it to someone who can. You basically sell the car at a really low price, practically just below the amount the you already spent on it. The person who bought the car from you, then would have to continue paying for the remaining balance to the dealer from where you bought the car. This way, you're credit won't go bad.
If the repossession occurred in a state that does not permit self-help repossession, report the car stolen; it cannot be legally repossessed. Louisiana and Wisconsin are two of these states. If you can show legal possession of the vehicle, and on time payment, report the car stolen. It cannot be legally repossessed in any state unless the debt is delinquent. If you do not wish to involve LEO's immediately, contact the private party who "repossessed" the vehicle and explain that if it is not returned within a reasonable amount of time, that you will report the vehicle stolen and give his name as the party responsible. There is no legal "personal reason" for repossessing a vehicle.
I really cant answer that, but in my opinion it would be smart to go back and see if you can get some kkind of proof of ownership
you can take off all the modifications off as long as the car is the same when you bought in running conditions and looks as descent as possibble
if he bought it as is..he is.dealers are responsible for most of problems; but other than that..let the buyer beware
The driver is always responsible for whatever happens to vehical he is driving
I would say no. If party A lost their home, i.e. had it repossessed, and party B bought it, then the house should be the sole property of party B.
You can run but you can't hide.
The only way to get it back would be if it were up for sale and you bought it. Once it's legally sold, it becomes the property of the new buyer.
depends on your state laws and your loan agreement. In my state you are responsible for what ever you still owe on the car and any fee I charge. If your car is sold that amount will be deducted from what you owe. In other words, I repoed a car and the guy owed $2000, I bought it for $600 plus my fee. He still owes the bank. $1400
Was this property bought before or after marriage? Either way, if you are married and want to sell real estate or a car or such, both spouses have to sign their consent to the transaction. So if your husband sold something behind your back, you might have a case. If it was bought before that, there's room for argument.
You shouldn't be, they were the one cited.
Mr. Seward bought it for about 50 cents an acre.
No, Not unless you used one of the other cars as collateral for the loan that bought the car the was repossessed. Then they can take the collateral too.
If the title is in your name only, then the new buyer will not be able to put the title in his name. If it was repossessed, then the lienholder was able to sell it and the sale is valid.
Not normally, unless the new owner has also 'bought' the previous owner's debts. However, if we are dealing with share ownership, the shareholder become the 'owner'. Shareholders are not responsible for the debts of the companies they have bought share in.