G
gonn75
Guest
I am listed as a joint owner on the title and registration of a vehicle as I put the initial $1500 down for the downpayment. the other person took out the loan for this vehicle. the agreement was that once the $1500 was repaid, I would relinquish ownership.
This other person has since traded in the vehicle for another without my consent or knowledge and never paid me back. The dealership has had this vehicle on their lot for the last 7 months as they cannot sell it without my signature. As the dealership will not re-imburse my initial investment, am I still the legal owner? Can I legally go to the dealership and retrieve this vehicle? I would assume they would have legal recourse against the other person to recoup the money they spent to payoff the car loan. Am I correct?
This other person has since traded in the vehicle for another without my consent or knowledge and never paid me back. The dealership has had this vehicle on their lot for the last 7 months as they cannot sell it without my signature. As the dealership will not re-imburse my initial investment, am I still the legal owner? Can I legally go to the dealership and retrieve this vehicle? I would assume they would have legal recourse against the other person to recoup the money they spent to payoff the car loan. Am I correct?