Do I own the title to my RV or does the bank?

What is the name of your state?What is the name of your state? Massachusetts/Kentucky/Montana

I bought a 40' RV in kentucky last October and registered it in Montana and sent my title and money there and Montana RMV sent me back a new title with my name as owner.....I have been making monthly payments to the bank since then.....

Now I get a notice stating that the bank wants the title and if they don't get it then I own the total amount of the loan immediately......

Who owns the Title? Me or the Bank? My relatives tell me that I own the RV thanks to a screw-up on the banks part.....true or not?

Please advise**************

- wlnichol

[racer72]

The bank owns the RV, not you. At a minimum the bank will let the state know of the error and your title will be nullified and a new one issued to the bank. A worst case scenario is the RV is repo'd and you are sued. Do you feel lucky?

Thanks for the answer.....and I always feel lucky but not in this case.....I know when to fold'em....