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Car repossession

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C

Conie

Guest
Let me start off by saying that I don't know if this is the right place to ask about this and if not can someone advise me where to post this.

My husband and I purchased a vehichle used car dealership. We've made exactly 9 payments towards the car. NOW HERE'S THE KICKER..... the financing bank signed the title over to us and sent it in the mail (clerical error). Because we now hold the title the car technically is ours correct? Today the company repossessed the car and we hold the title, not the company.
 


L

lucy lu

Guest
I don't know, sounds to me like you own the car, regardless of if it were an error or not!!!!!! They messed up they should pay the price.

Any other advice out there?
 

JETX

Senior Member
Having possession of the title does not specifically give you ownership if the title was not properly released.

First, is it the 'negotiable' title?? Most states have several different titles.

Second, is the title signed on the back showing that the lien is released? If not, it isn't valid.

Third, does the title have a stamp (usually in red) on the front saying "Lien Released"?
If neither of #2 or #3, probably not a valid title.

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Steve Halket
Judgment Recovery of Houston
[email protected]
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This is my PERSONAL OPINION and is not legal advice! Consult your local attorney for your specific situation and laws!
 

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