my exboss took posession of my boat because i missed 2 payments we have no contract can he legally do this?

Answer 1

Without a court order or an agreement permitting re-possession of the boat, your ex boss has no right to do what he did. The police will unlikely want to get involved in what they will call a civil matter, but call if you want.

If the boat is registered in your name, you could try to re-take the boat yourself, but that could be risky from a practical standpoint.

You could sue and ask for the boat to be returned, but the court would probably order you to make your payments up to date or it could order you to pay the full price (get financing from a bank). On the other hand, the bank could find you in breach of the purchase agreement, so your ex boss could keep the boat, provided he refunds some or all of the other payments you have already made, less some discount for rental value.

My suggestion is to get some financing and offer to pay the outstanding balance, provided the boat is returned to you ASAP or ask your ex boss to refund some or all of the payments you have already made. If he refuses to refund and insists on keeping the boat, sue him.

Answer 2

Is it in his name or yours?

Answer 3

If you missed two payments you must have a contract to buy albeit a verbal contract. Can he repossess? Depends on the state and whatever your verbal contract was.

Answer 4

I do believe he/she could have repo'd after 1 missed payment. W/O a contract how can you legally prove anything?

Answer 5

is the boat in his name? if the boat is in your name and not his, and there is no contact then no, otherwise yes..pay your bills..if you cannot afford to pay for the boat how can you pay for the gas, insurance and maintenance

Answer 6

Pay the man/woman.