My fiancé’s grandmother is taking his car?

[justalayman]

Absent a written agreement, what proof do we have that this was ever the agreement?

ETA: Not to mention the fact that the grandfather was contractually prevented from assigning a security interest of that type anyway...

Grandfather could assign a security interest. It would be junior to the lenders security interest. It happens all the time with mortgages, tow truck drivers, and title loan companies


Anyway, maybe somebody needs to involve grandpa

 

[Just Blue]

Grandfather could assign a security interest. It would be junior to the lenders security interest. It happens all the time with mortgages, tow truck drivers, and title loan companies


Anyway, maybe somebody needs to involve grandpa

Apparently grandpa's mind "has started to go" (whatever that means)...hence the POA.

 

[justalayman]

Apparently grandpa's mind "has started to go" (whatever that means)...hence the POA.

I suggest op find out if that means grandpa is incompetent or that he forgets to zip up his zipper

 

[Just Blue]

I suggest op find out if that means grandpa is incompetent or that he forgets to zip up his zipper

I agree.

 

[xylene]

OP says the grandfather cosigned for the loan.

How that translates to "he was renting the car" seems a bit nebulous.

Grandmother owes them:

the car and something like they resume paying the loan or refinance or pay off the remaining loan balance

or the present value of the car minus any remaining payments.
if that amount is negative or zero that's on grandma who wanted to seize the car.

 

[PayrollHRGuy]

The car was in the Grandfathers name. He did more than co-sign for it.

 

[xylene]

The car was in the Grandfathers name. He more than co-signed for it.

That establishes the OP / fiance didn't know what was going on and are unclear on the terms of the deal, not that the car is a rental.

Did the OP have any obligation to make payments at all?

 

[Zigner]

That establishes the OP / fiance didn't know what was going on and are unclear on the terms of the deal, not that the car is a rental.

I said that the OP's fiance was in essence renting the car from grandpa. Once he stopped using the car, he stopped paying for it.

Did the OP have any obligation to make payments at all?

No, not to the finance company.

 

[xylene]

No, not to the finance company.

Did he have an obligation to the grandfather?

If yes, than he is owed the equity (if any) in the car.

 

[Zigner]

Did he have an obligation to the grandfather?

If yes, than he is owed the equity (if any) in the car.

What if the obligation was to pay the monthly payments as long as he was using the car, and then stop when he returned the car? You know...like exactly how it worked...

 

[xylene]

What if the obligation was to pay the monthly payments as long as he was using the car, and then stop when he returned the car? You know...like exactly how it worked...

The grandmother has accrued 3 months of payment equity, and that should be factored in.

 

[PayrollHRGuy]

The grandmother has accrued 3 months of payment equity, and that should be factored in.

No, the Grandmother has accrued 3 months of payments equity in addition to the payments the son made to use the car.