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Q: Auto repossession process ( No Answer,   6 Comments )
Question  
Subject: Auto repossession process
Category: Business and Money > Finance
Asked by: danny456-ga
List Price: $10.00
Posted: 17 Jun 2006 12:26 PDT
Expires: 17 Jul 2006 12:26 PDT
Question ID: 738969
My brother left the county for good but he left his car behind.  Two things:

1. The car is at my place (just sitting there, I am not even touching
it), do I have any personal laibility of any kind if the bank wants to
repo it?

2. There is another car that is on my brothers name but I have
techinally bought the car, but the pink slip has his name. Say, the
bank came today to give the repo notice, and then two days later I
transfer the car on my name, can they put any claim on that car?

Thank you
Answer  
There is no answer at this time.

Comments  
Subject: Re: Auto repossession process
From: cynthia-ga on 17 Jun 2006 13:37 PDT
 
Q #1: You have zero liability, they will repossess it when they find
it regardless of where it sits.

Regarding car #2, "technically" you DO NOT own the car, your brother
cannot sell a car that [he] has not paid for in full. The title has
two sections, the LEGAL OWNER [the bank] and the REGISTERED OWNER
[your brother].

You don't own the second car, neither does your brother, the bank
does, and they let him drive it while they receive payments from him.
If he fails to keep up with payments, they will repossess their car.
Subject: Re: Auto repossession process
From: danny456-ga on 17 Jun 2006 14:01 PDT
 
Thanks Cynthia.

The second is actually fully paid, its an old car. So would I be able
to keep it if I get it under my name?
Subject: Re: Auto repossession process
From: cynthia-ga on 17 Jun 2006 17:21 PDT
 
Yes. In the case of a fully owned car with no loan/lien against it,
the title would read: LEGAL OWNER: [YOUR FRIEND], REGISTERED OWNER:
SAME AS LEGAL OWNER. The title of this car is clear, meaning it has no
liens against it.

Your friend must sign the title over to you, in which case you go to
your nearest Auto Licensing place and get the title changed into your
name.

The "pink slip" usually refers to the registration, not the title.
Having the pink slip is useless, you must have the signed over title
to put the car in your name.

It's important to have the car titled in your name. Say you park
illegally and the car gets towed by the city. Towing companies will
only release cars to the legal or registered owner, so you would be
out of luck and unable to remove the car from impound.
Subject: Re: Auto repossession process
From: cynthia-ga on 17 Jun 2006 17:22 PDT
 
Also, if this exchange fully answers your question, let me know and
I'll post it as your official answer to receive your offered
compensation.

~~Cynthia
Subject: Re: Auto repossession process
From: danny456-ga on 17 Jun 2006 17:34 PDT
 
Cynthia, I would be happy to accept this as an answer if you can
provide some reference material
Subject: Re: Auto repossession process
From: ponder852-ga on 17 Jun 2006 19:34 PDT
 
danny456 & cynthia, I don't know which country/state/jurisdiction you
are talking about. Essentially cynthia is correct, however, some
clarification.

danny456, as a general priciple of law, if your brother just left the
first car on your property without making any arrangements or
agreement with you about it then you have no responsibility to your
brother, or his bank, for the car. If you made any agreement with your
brother to do anything about the car then you must honor the terms of
that agreement, or your brother may have an action against you. Unless
you made some agreement with the bank you have no obligation to the
bank. It is not always true that the bank and it's agents can just
enter the property and remove the car. Depending on your location
there may be laws about how, when and where the bank or it's agents
can enter to remove the car. In some jurisdictions they must have a
court order first.

You should note that if you use the car for any purpose, or take it
off your property, you may create a personal responsibility depending
on the circumstances. For example, if you take the car, park it on the
street, leave it there unlocked, and it's then stolen, you will be
responsible.

As to the second car, adding to cynthia's answer, if you don't get the
car signed over then your brother may return and attempt to reclaim it
or if he dies or becomes insolvent the executor or the trustee of his
estate can claim the vehicle.

It is worth noting that in some jurisdictions there is no system for
recording both a 'legal owner' and a 'registered owner' with the
authorities. In those jurisdictions typically there is simply a
process of registering the vehicle in a 'registered name' and that
name is responsible to the authorities for the vehicle and the actions
of the vehicle. In some of those places the 'registered name' is
deemed to be the 'legal owner' of the vehicle however others just view
that 'registered name' as the party liable for the vehicle and allow
that the vehicle may be owned by an undisclosed 'legal owner' though
typically they consider the 'registered name' the 'legal owner' until
evidence is produced to prove alternative legal ownership.

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