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How do you repossess a car that your child was supposed to repay but that you took out?
IF your name is on the TITLE, you go get it. If not on the title, call the lender and make arrangements for them to repo so you can have possession of the car.
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.
Can a lien holder repossess your car if you have a clear title?
sure can if they have a title too
Can a co-signer for a car repossess the car for non-payment and or failure to maintain insurance?
NO, a co-signor cant repo anything. IF your name is on the TITLE as co-owner, you can take possession. NO name on the title, all you can do is work with the lender and take care of it that way.
Is it legal for the lender to repossess a vehicle after you made arrangements and they accepted a payment?
it is legal, until it is paid for 100% and you have a title it belongs to them.
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
When lender holds loan is title still considered clear?
No.
Are you obligated for the mortgage if your name is on the title?
You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.You are obligated for paying the loan if you signed the mortgage. If your name was added to the title after the mortgage was granted then you received your interest subject to the mortgage. If it isn't paid the lender will take possession of the property by foreclosure. If your name was on the title prior to the mortgage and the lender didn't have you consent to the mortgage then the lender made a big mistake and can only take possession of the interest of the person who did sign the mortgage.
Can the co-owner of a vehicle repossess it from the other co-owner who has always had possession of the vehicle without the permission of the lender and the payments are up to date?
A Co-Owner has all the same rights to the vehicile as the owner, who by the way is also a co-owner. See Co-Owned..
Your car company has paper work stating that your car was repossessed and sold at auction but in reality you still have possession of the car because they did not want it how do you get the title?
A title will only be given to the borrower when the financial agreement has been paid in full or the lender has accepted a different agreement offer. A clear title cannot be issued to the borrower until the lender/lien holder signs it over.
What does it mean to be a title theory state in Michigan?
In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.In a title theory state when a property owner grants a mortgage they actually convey the title to the lender or a trustee until the mortgage is paid off. The conveyance is conditional: If the mortgage is paid off the lender releases the property; if the mortgagor defaults the lender can take possession of the property by foreclosure and sell it.
If lender mistakenly signs over auto title to borrower and borrower sales title who is libel?
A borrower should not have a title in their possession that they have borrowed money against. This belongs with the lender. Should the borrower sell the car, they would be libel.
