Car in my name and being driven by son

[cottersay]

What is the name of your state?I'm in California, and I stupidly purchased a new car for my son because he did not have enough money (or credit) to buy one. The verbal agreement between he and I was that he pay the monthly car and insurance payments (which he *said* he does). He has become very irresponsible, besides other problematic issues, and since I’m the legal registered owner of the car I’m very concerned since I know, here in California, that I will also be sued if he gets into an accident. Is there anyway I can get my name off of the car without paying it off (he still owes $15,000 to the lien holder)? How can I get out from under this quickly, since my son refuses to give up the car?

Many Thanks,

-Jan

 

[JETX]

Is there anyway I can get my name off of the car without paying it off (he still owes $15,000 to the lien holder)?

Not really. The problem you have is the lender has the negotiable title/registration. And based on your statement about your son, it is unlikely to release your obligation and/or ownership

How can I get out from under this quickly, since my son refuses to give up the car?

How old is your son??

And how EXACTLY is the vehicle titled??? Is it 'your name' OR 'his name'?? Or is it, 'your name' AND 'his name'??

 

[cottersay]

Thanks for the quick reply!

"How old is your son??"

He is almost 50 years old, but has always been irresponsible (as I was when I bought him the car!)

"And how EXACTLY is the vehicle titled??? Is it 'your name' OR 'his name'?? Or is it, 'your name' AND 'his name'??"

The car is strictly registered in my name only, since his credit was incredibly bad, and he could not get a loan under any circumstances. I believe the Pink Slip itself is with the lien holder.

Thanks,

-Jan

 

[I AM ALWAYS LIABLE]

"How old is your son??"

He is almost 50 years old, but has always been irresponsible (as I was when I bought him the car!)

"And how EXACTLY is the vehicle titled??? Is it 'your name' OR 'his name'?? Or is it, 'your name' AND 'his name'??"

The car is strictly registered in my name only, since his credit was incredibly bad, and he could not get a loan under any circumstances. I believe the Pink Slip itself is with the lien holder.

Thanks,

-Jan

My response:

If he's 50, how old are you??

Geez, if the car is only in YOUR name, then what does that tell you? Yes, it's YOUR car. Either buy insurance on it yourself, including him as an insured on your policy, or have someone go get the car and then change the locks and ignition so that he can't come back and get the car. Then, sell the damn thing for whatever you can get, and take the financial hit by paying off the balance of the loan.

IAAL

 

[JETX]

The car is strictly registered in my name only, since his credit was incredibly bad, and he could not get a loan under any circumstances. I believe the Pink Slip itself is with the lien holder.

I think you may be a little confused on the issue of title versus loan. They are completely different. The loan may be solely in your name, but the title could still be in one or both.
You need to look at the actual TITLE to the vehicle (either contact the bank holding the original or get a copy from the state DMV). If you find that your name is the ONLY name on it, then do as IAAL suggests..... go get your car and sell it.
However, if the title shows BOTH names, then you can still go get your car (as you would have equal right of possession and custody. If the title is in the 'or' format, then you can still sell it without his signature or permission. If the title is in the 'and' format, then both signatures will be required to sell or transfer the vehicle.

 

[cottersay]

Thanks JETX and IAAL

I really appreciate the great legal info!

Best Regards,

-Jan

 

[rmet4nzkx]

It's time for sonnyboy to grow up, has he ever heard of a used car or public transportation? Once you get this resolved you may also want to look at other situaitons because you may be at even greater risk. Also bailing him out onlly contributes to his problem. Good Luck.

 

[cottersay]

rmet4nzkx, you are 1,000% correct!

I have definetly learned my lesson!

Thanks,

-Jan