Car repossession & missing name from title any help?

My car was recently repossessed, I was in the hospital and the bills got out of hand and the bank wouldn%26#039;t allow me any leeway even to make a payment a few days later without penalty. .... im sure we%26#039;ve all heard it before tough luck rite. in any case, I bought the car with my 20 yr old daughter. Her name was only on the loan papers, never on the title or registration anything like that we made it clear when buying the car I was the one paying. Now after the car has been repossessed the car dealership is issuing new plates and registration at no cost to us [oh gee, how nice of them]

Is there some way that I can get my daughters name off of this I don%26#039;t care about mine. The car isn%26#039;t worth a fraction of what they want, and my daughter shouldn%26#039;t be responsible for something I did.

Oh an also, the car was repo%26#039;d illegally (the local police let me in on that, they never filed the proper paper work with local authorities before repossessing the vehicle.)

Car repossession %26amp; missing name from title any help?

If I get this right you co-signed in that case both you and your daughters credit will be hurt.

If your daughter signed the note her credit will be the one that will be hurt.

Even if you were paying

If you signed the note not your daughter your credit will be hurt.

It doesn%26#039;t matter who has plated the vechical because the vechical can be plated by either one of you if you co-signed. Because you both have the same intrest in the car.

So, if your daughter never signed the loan agreement she is ok if she did then she will have credit damage.

Goodluck

Car repossession %26amp; missing name from title any help?

I fully understand your situation with the bill getting out of hand, have heard it may times. But I need to warn you of something else that sound fishy to me first.

You see when a car loan company make a loan to a person for a car they usually insist that this persons name be put on the title and that their company name appear as a lein holder on that title. That basically how they secure the agreement with the dealership. See, the dealership makes sure this happens and they in return get their check from the loan company for selling the car.

So if your saying you had loan papers made up at the dealer for your daughters name and then the dealer was going to put the vehicle under your name, I don%26#039;t see how that would have been possible.

It sound to me like, they processed your daughter for the loan, she was then approved and then they just waited to file the paperwork on your vehicle registration some time later. What they were probably hoping would happen is that you would go on making payments, they would come through with plates and stickers and you wouldn%26#039;t notice that it was in your daughters name till some time next year when it was time to renew your vehicle registration. Which would have been to late to do anything about.

As for the situation and how it stands now, the vehicle (I%26#039;m assuming) has been place in your daughters name to finalize the sales paperwork so they could get their check and your daughter is stuck with a repossesion on her record. The only way out now would be to negotiate with the loan company and get the car back, continue paying on the car to save her credit and hope for the best.

Other wise, since your name doesn%26#039;t appear on loan docs or title there is now way for you to take responsibillity, sorry.

Question? When you purchased, did you both sign the same docs or just your daughter? Check into that and then talk to an attorney.

We are going to lease a home, they want us to sign a quitclaim to be listed on the title and pay the

We want to know if this is legitimate, because they tell us that by being on the title they will refinance the house in our names and give us full title, next year. We basically have low credit scores and really wanted the house before someone else bought it so an investor bought the house for us. We are just not sure how much ownership the quitclaim really gives us, like does it keep them from selling the house or taking out any further loans or adding someone else to the title? Please advise.

We are going to lease a home, they want us to sign a quitclaim to be listed on the title and pay the mortgage.

Talk to a Title company or bank the can give you exact answer for free

We are going to lease a home, they want us to sign a quitclaim to be listed on the title and pay the mortgage.

Ownership of real estate is established by law and each state%26#039;s real estate laws are unique and the actions of the citizen by virtue of actions and or inactions or instruments can provided for rights to the property in question. Interest in a property can also be acquired through court action and a ruling of the court. A quit claim deed that is provided to another party by a purported property owner merely conveys the interest of the purported property owner %26quot;if any%26quot; to the recipient. If they do not have any interest in the property no interest passes but perhaps color of title is then established. If on the other hand; if the purported property owner has an interest it then passes subject to any and all other interest and encumbrances on the property. As you can see this is merely a simple opinion on an extremely complex issue of law and as such I recommend that you seek competent legal advice from a local licensed real estate attorney in your area. If you wish to find such counsel go here:

American Bar Association: http://www.abanet.org/about/ or http://www.abanet.org/statelocal/home.ht...

Buena Suerte

We are going to lease a home, they want us to sign a quitclaim to be listed on the title and pay the mortgage.

This is how I see your situation working...First, ownership of the home and responsibility for the mortgage are two separate things. (I am setting aside the fact that the lender technically owns the home for the sake of argument.)

As far as the mortgage is concerned, both you and the investor are listed as equally responsible on the mortgage for the home. The investor is essentially acting as a cosigner using their good credit to compensate for yours in getting the deal approved. Next, as far as ownership is concerned, the investor could quitclaim the deed to you making you the sole homeowner.

This does not remove the investor from responsibility for the mortgage but establishes you as the sole owner of the home. They cannot sell the house because it is no longer theirs. They cannot add anyone else to the title since they have quitclaimed the title to you.

Now they will not be able to refinance the home either since to do this they would need to show the new lender that they still have title to the home, which they don%26#039;t because they quitclaimed it to you.

Only you can refinance the home which you may or may not be able to do given your poor credit. After a period of time of making mortgage payments your credit may improve to the point where you might qualify for your own mortgage. Once approved, you would own the home and have sole responsibility for the mortgage.

So it sounds like they are helping you become homeowners but only you know what it is costing you or what the investors are making in your deal.

Ilve galveton tx,and i lost the title to my bike which i am trying sell how can i get one back in a

i need to get a quick title cause the fella i am selling to loans runs out on the last day of the month.

Ilve galveton tx,and i lost the title to my bike which i am trying sell how can i get one back in a few days?

Go to your Div. of Motor Vehicles with a registration of license plate or original sales receipt and apply for a duplicate title

Ilve galveton tx,and i lost the title to my bike which i am trying sell how can i get one back in a few days?

contact the local dmv for a duplicate title, maybe even go there physically and stand in line....

Ilve galveton tx,and i lost the title to my bike which i am trying sell how can i get one back in a few days?

DMV can print you one on the spot.

Ilve galveton tx,and i lost the title to my bike which i am trying sell how can i get one back in a few days?

Take the buyer to the DMV with you and explain what you want to do. They have forms to fill out for that, and you can transfer the title and pay all the fees on the spot, and the buyer will receive a pink slip in the mail.

I%26#039;ve done it numerous times. I lose paperwork too.

Ilve galveton tx,and i lost the title to my bike which i am trying sell how can i get one back in a few days?

Go to the nearest tag agency and get a %26quot;quick title%26quot;. It just takes a few minutes!

Purchasing a used vehicle with out receiving title?

Is it safe to send a check to his bank to pay off his loan and to get the title in my name. What percautions should i take?

Purchasing a used vehicle with out receiving title?

You should be very careful.

Write a contract, check his identification, check the car documents, also with the state police to find out if it is a legal car and all.

Also I would make the transaction in the bank physically, once you checked all his documents.

That way you are secure, and he can see the money wired to the account and give you the documents with proper witnesses,

Don%26#039;t you have a relative who is a lawyer?

It is always best to take precautions.

good luck and I hope all turns out well.

Purchasing a used vehicle with out receiving title?

Get the title in your name should be your first precaution. Get a contract with the person you made the deal with requiring him to give you the title. Need something in writing in case he tries something.

Purchasing a used vehicle with out receiving title?

NO go to the bank with him -have all your reciepts with you-then go with title in hand and get it in your name

Purchasing a used vehicle with out receiving title?

No....go to your bank and get a certified check made payable to his bank, have him sign over the title and let him pay off his own loan. Even if you do sends his bank a check, he needs to sign off on the title before you pay for anything

Purchasing a used vehicle with out receiving title?

Contact the bank holding the title and ask how this should be handled.

Can I write off my mortgage interest on my tax return if my name is on the title but not on the loan

%26quot;You must be legally liable for the loan. You cannot deduct payments you make for someone else if you are not legally liable to make them. Both you and the lender must intend that the loan be repaid. In addition, there must be a true debtor-creditor relationship between you and the lender.%26quot;

My reading tells me that you may not, but since your name is on the title, review the IRS link below:

Can I write off my mortgage interest on my tax return if my name is on the title but not on the loan?

You don%26#039;t have a mortgage if your name isn%26#039;t on it.

Can I write off my mortgage interest on my tax return if my name is on the title but not on the loan?

matters who is on the title and who is making the payments.

your spouse- filing jointly? it doesnt matter. you get to deduct

parents-

claiming them as dependent- should be able to i think

not claiming them- no you cant even if you are making the payments. this goes for others too. your payments might be a gift which you could pay extra gift tax on over 12K or 24K if married, or maybe even income on their part and they would pay taxes on that amount.

again, check with a professional, this is just my guess.

Can I write off my mortgage interest on my tax return if my name is on the title but not on the loan?

No you may not. You must be legally obligated to make the payments and you must actually make them in order to take the mortgage interest deduction. Since your name is not on the loan, you may not take the deduction. Additionally the person whose name is on the loan may not take the deduction either as they did not make the payments.

Since your name is on the title, you MAY take the property tax deduction, however.

Can I write off my mortgage interest on my tax return if my name is on the title but not on the loan?

Is it a loan on your home? Your name may not be in the title, but does the loan agreement mentions you as co? Here is text from Publication 936.

%26quot;More than one borrower. If you and at least one other person (other than your spouse if you file a joint return) were liable for and paid interest on a mortgage that was for your home, and the other person received a Form 1098 showing the interest that was paid during the year, attach a statement to your return explaining this. Show how much of the interest each of you paid, and give the name and address of the person who received the form. Deduct your share of the interest on Schedule A (Form 1040), line 11, and print 閳ユ藩ee attached閳?next to the line.%26quot;

Can I write off my mortgage interest on my tax return if my name is on the title but not on the loan?

No. You can only deduct mortgage interest that you are legally obligated to pay. If you aren%26#039;t on the mortgage, then you aren%26#039;t legally obligated to pay it even if your name is on the title and you are actually paying the payments.

I amprimary on car loan with x on loan ,her name is on title Can I take car from her she is 2 paymen

we were not married. I%26#039;m told a voluntary repo would be best.

I amprimary on car loan with x on loan ,her name is on title Can I take car from her she is 2 payments behind?

taking it from her may bring legal troubles. I would take her to court, if she is behind, and you want the car, then the judge may order the car back to you. If you are the primary though, you have just as much right to that car as she does. So you may be able to get the car, I would call the police, explain this to them, and see if they will go with you, to advoid any trouble that may come out of this, good luck.

I amprimary on car loan with x on loan ,her name is on title Can I take car from her she is 2 payments behind?

If you are the primary on the loan and she is not paying for it, GO GET IT. There is no such thing as a voluntary repo, a repo is a repo so don%26#039;t let anyone feed you that line. I have went through this very same thing and eventually they (finance co.) will come and get it and it will default to your name. I would talk to her if thats possible, and then bring your supporting documents to the police and explain it so there is no domestic trouble. Bottom line, if you are on the loan, you are on the hook. Hope that works out for you.

I amprimary on car loan with x on loan ,her name is on title Can I take car from her she is 2 payments behind?

Probably not. This is why you don%26#039;t %26quot;help%26quot; people get car loans when they can%26#039;t get one themselves, sorry to say. When they flake out, it%26#039;s gonna mess up your credit. I%26#039;d take her to small claims court.

I amprimary on car loan with x on loan ,her name is on title Can I take car from her she is 2 payments behind?

Every state has different laws. Also free legal aid (remember, you get what you pay for). I%26#039;d check and see what the laws in your state are before taking any action. You want to avoid incurring anymore costs.

I amprimary on car loan with x on loan ,her name is on title Can I take car from her she is 2 payments behind?

Not only can you take it, you%26#039;d better take it %26amp; catch up the payments. Then either pay it off or sell it %26amp; settle the difference with the finance company. I am sorry you had to learn this lesson the hard way.

Proverbs 17:18 states that someone who cosigns %26quot;signs surety%26quot; for another is %26quot;lacking in understanding%26quot; (aka stupid).

I amprimary on car loan with x on loan ,her name is on title Can I take car from her she is 2 payments behind?

you contact the creditor, advise them that you wish to take control of the vehicle, to either sell and pay off the loan, or turn it over to them. They will write you a legal letter stating that you have a vested interest in the vehicle, and what your intentions are. It is perfectly legal and she will have no recourse. Good luck. YOU MUST CONTACT THE LENDER FIRST !!!

I amprimary on car loan with x on loan ,her name is on title Can I take car from her she is 2 payments behind?

I was in a similiar situation as this in Arkansas. Don%26#039;t know what the laws are in other states. I was informed that a primary signer has most of the rights. Technically you are the responsible party of the vehicle(on contract). You can take the car from her if you have been paying the monthly note. You have to prove on paper that you have been making the payments. If she%26#039;s been paying the monthly note than she has the rights to the car. Being that she%26#039;s behind on payments this would be more in your favor to take over payments. Thats if you%26#039;re wanting to keep the car. If you don%26#039;t want the car you could always voluntarily surrender it. Of course if nothing is done as far as payments go...the lender will repo the vehicle. This will take a hard hit on both your credit! This is definitely something that will have to be handled in court. That is if an agreement can%26#039;t be made between the two of you. Good luck.

I amprimary on car loan with x on loan ,her name is on title Can I take car from her she is 2 payments behind?

You can NOT go take that car from her if her name is soley on the title. If you are on the title, go get it. But, if only her name appears on the title, she can report it stolen. This is regardless of who appears first or second on the financing contract. If you are not on the title, make the payments, and take her to court to get the car.

Do not repo the car, your credit will be absolutely destroyed for many years to come.

My girlfriend and I bought our first home in 08/06. We're co-owners on the title, but only I am

so only I received 1098s. I have no income to report for 2006. She earned all of the household income and is on the title - can she use the deductions?

My girlfriend and I bought our first home in 08/06. We%26#039;re co-owners on the title, but only I am on the loan,

She can%26#039;t take the mortgage interest deduction if she is not responsible for the mortgage. She can deduct the real estate taxes.

Are you sure her name is not on the loan as well as yours? Check with the lender. Just because only you received the 1098 does not mean she is not on the loan. If she is on the loan and paid the mortgage, then she could also deduct the mortgage interest.

My girlfriend and I bought our first home in 08/06. We%26#039;re co-owners on the title, but only I am on the loan,

all she has to do is prove she made the payments, that shouldn%26#039;t be hard

My girlfriend and I bought our first home in 08/06. We%26#039;re co-owners on the title, but only I am on the loan,

I think, technically, she%26#039;s a renter, as you are not legally married. With no indication from you which state you live in and what the statutes are regarding common law marriage and community property, the question gets a bit more difficult. If she is legally considered as your spouse, and you are in a community property state, then she may be eligible for the deductions.

What puzzles me is your assertion that you are both %26quot;on the title%26quot;, but only you are on the loan. I do not know of any lender that permits this. I make a living doing financing and hold an active real estate license. It is not uncommon for the inverse to be true, as when two people are both on the loan, but only one of them is a legal tenant or deed holder. You may be mistaken about the title status of the property. If both of you are on the title, that would be joint tenancy, with both of you equally and severally liable for any and all liens, including a mortgage or deed of trust.

I would think the simplest solution would be to designate her as a renter, show the rent as income for you, and then you can deduct the interest, since the home is also your primary residence. You may, as a landlord, also be able to depreciate some portion of the house, though that might be tricky.

I would consult a tax attorney or a good CPA. The few bucks you spend could save you a lot of grief in the future. Tangling with the IRS is rarely amusing.

My girlfriend and I bought our first home in 08/06. We%26#039;re co-owners on the title, but only I am on the loan,

No, even if she made the mortgage payments she can%26#039;t deduct the interest, because since she isn%26#039;t on the mortgage, she isn%26#039;t legally required to pay the payments. Since she%26#039;s on the title though, she could deduct the real estate taxes if she has enough deductions to itemize, since she is legally responsible for those.

If you got married and filed a joint return, the interest would be deductible whether you personally had any income or not. But saving taxes is NOT a reason to get married unless you%26#039;re planning to do so anyway.

My girlfriend and I bought our first home in 08/06. We%26#039;re co-owners on the title, but only I am on the loan,

Sorry, but in this case, nobody gets the mortgage interest deduction.

To claim the deduction you must both be legally obligated for the debt and must actually pay it. Since you are the only person on the mortgage, only you can claim the interest deduction. She cannot as she is not legally obligated for it. Since you didn%26#039;t pay it (or didn%26#039;t earn enough to have to file a tax return and get any benefit from it) nobody gets it.

Now, property taxes are a different story entirely. Since she is on the deed, she DOES have the legal obligation to pay the property taxes and may take the deduction for any that she paid, assuming that she itemizes her deductions.

My girlfriend and I bought our first home in 08/06. We%26#039;re co-owners on the title, but only I am on the loan,

No, because she is not legally liable on the loan. Why not get married before Dec 31 and then you can file Married Filing Jointly. You bought a house together why not? Both of you would be in a much better financial position.