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Is a private leinholder of a vehicle liable for the actions of the person who has possession of the vehicle?
Wiki User
∙ 17y ago
No.
Wiki User
∙ 17y ago
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What happens when a vehicle is purchased outright from a private seller and the title has a third party lien and the vehicle gets repossessed?
VICTIM buyer has to pay off the leinholder to get car. And/or sue con seller. Leinholder WILL get their money. GOOD LUCK...
Can your wages be garnished for a repoed vehicle in portland OR?
they should not be able to garnish wages for a vehicle the leinholder has taken back into their possession for payments not being made. They have the vehicle back, so its not right for them to take your money.
Can the police seize a vehicle that you are not leinholder of?
Yes. They can. If the vehicle is in your posession when they stopped you.
If your vehicle was hit by an uninsured vehicle that was impounded after the accident but later repossessed from the pound by the leinholder can you sue the leinholder?
You could try but I doubt you would prevail. What liability do you think the leinholder has in the accident? You need to sue the driver of the car that hit you.
Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
How would the co-owner of a new car take possession of the vehicle for failure of the other co-owner currently in possession to maintain insurance?
To take possession, you MUST be named on the TITLE as co-owner. the LINHOLDER will wanting to be sure the car has the required ins. coverage. IF you are on the LOAN as co-buyer, you will have to make the loan CURRENT if in default. It would work out better if you contacted the LEINHOLDER for state specific advise on the matter. If you are NOT on the loan, it could be repoed for 3rd party possession in your possession.
Is there a charge by a lien holder if you do not have insurance on the vehicle?
Of course. The financing agreement that you signed requires you to have full coverage insurance and to make sure that they receive a copy of the insurance with their name listed as leinholder on the policy. This assures that they are paid if there is an accident and that they are notified in case of a cancellation of the insurance. There are laws protecting the leinholder in every state. If you break the contract with the leinholder they have the right to repossess the vehicle as well as the put what is called forced place insurance on the vehicle. This insurance protect the leinholder's interest only in case of an accident or damage to the vehicle. This coverage is physical damage coverage only and does not include liability or any other coverages and the premium is very high. The premium is charged to your loan account.
How can you get help writing petition for repossession of a vehicle?
not sure what your question is, BUT, if you want a car repoed and know the leinholder, CALL the lender.
How do you place a lien on a vehicle If you are willing to finance a used vehicle to someone how do you protect yourself?
On the back of the title there is a place for you to put the leinholder information. Just put your information there when you pay the money to the seller. If there is a leinholder, the insurance company will require the owner to carry full coverage insurance, therefore, if the car is wrecked, the insurance will pay you, the leinholder, and not the owner listed on the title. That way you will be able to recoup any money that is owed to you. You can only keep the amount that is owed to you and pay any remaining to the registered owner of the vehicle.
Do you have to have a current auto registration to file a claim?
One has nothing to do with the other unless the insurance carrier is asking for the registration to show that the vehicle belongs to you. Often times they will require you to show them a current copy of the registration or the title to the vehicle. The registration is used because most vehicles are financed so the bank or finance company would have possession of the of the actual title since they are the leinholder.
If the cosigner has had possession of vehicle 15 months paying the payments does the primary have the right to the vehicle?
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
Can you get your vehicle possession after your vehicle was repossessed?
by paying the bill or rebuy it at an aucton
