I paid a large sum of money for a car for a friend as they had written off their old one. They have to date not paid me any money back for the car and they are as yet not in possesion of the log book (car reg document in the UK)
Can i confisicate the car as I am in effect the legal owner of the vehicle or do i need to pursue it through the courts (of which it will be futile anyway as the person seems to be severly in debt)?
2007-04-19 03:41:32 · 12 answers · asked by footix2 2 in Cars & Transportation ➔ Buying & Selling
Yes you can. In the UK the log book just records the registered keeper of the vehicle, not the legal owner. You own the car as the money used to purchase it was yours. The current keeper effectively bought it on your behalf, so the car is yours and you are now lending them your car, NOT the money. Therefore you can take it back at any time. The other party can have the car when they pay you, in full, for it. This is legally the best way to approach your problem, as you therefore do not have to register yourself as a financial lender. Best of luck mate.
2007-04-19 04:04:32 · answer #1 · answered by ? 3 · 0⤊ 0⤋
If you lent someone money to buy the car it is different than if you are the actual owner of the car. If your name is on the vehicle registration and ownership papers, then the car is yours. Do you have an actual contract of payment with this person concerning the money paid for the car stating payment amounts, dates, total due by etc? or was it just a verbal agreement? How much did you pay for the car? Is it worth the costs incured in court? You also need to consider that if you go to court with your friend, your friendship may be on the line. You may consider working it out between yourselves (assuming you are still friends and that's a viable option).
2007-04-19 10:55:22 · answer #2 · answered by Miranda J 1 · 0⤊ 0⤋
If you have the title, you can take possession of the car any time you want. If you don't have the title, you will have to go to court, unless they agree to give the car back. That's the first thing you do, by the way, ask them to give it back. In the US, you have to ask for the property back in writing, by registered mail, then it becomes legal to re-possess the thing.
Again though, if you have the title, you just go and take the car back. In the US, we have two documents, the Title and the Registration. The Title shows ownership, but the Registration does not prove ownership, only that the car is compliant with the law and paid all the taxes and stuff. I think your Log Book is more like a Registration, and you need the Title.
The other person's debt amount is none of your concern. If you have the Title in your name. It really all hinges on that.
2007-04-19 11:24:39 · answer #3 · answered by polly_peptide 5 · 0⤊ 0⤋
Unless you've got your name on the title you're out of luck. If your name ended up on the loan, it would make you liable to pay for the car, but until your name is on the title you do not own the car and confiscating it would be considered stealing.
If you've loaned the money to someone without any paperwork then I would say it will be a costly lesson learned.
The questions I would be asking are...
1. Did you inform your friend that this was a LOAN and not a GIFT?
2. If it was a loan, what was the agreement on re-payment?
3. Have you talked your friend about re-payment? Let him/her know you're going to need the money that was loaned back.
4. What type of written paper work was signed between the two of you?
If you don't have anything written, your friend can easily claim that he though the money was a gift from his good friend and with no proof you'll be out of luck.
2007-04-19 10:46:44 · answer #4 · answered by hsueh010 7 · 0⤊ 0⤋
Knowing that this person was severely in debt, and unlikely to follow through on obligations, you LOANED the person money. Did you have your name put on the vehicle title as legal owner, and write up a sales contract with terms of payback? Unless you can answer yes to both questions, you might just as well write off the money and your 'friend' and learn something from the whole experience.
If you can answer yes that you are the legal owner of the vehicle, then yes, you can go get it.
2007-04-19 10:53:45 · answer #5 · answered by oklatom 7 · 0⤊ 0⤋
Well here in the states if the vehicle is in your name and it is leagally yours, you should just report the vehicle stolen and have this person suffer some consiquences of not paying you. But if the vehicle is not in you name and there is no proof that you gave the person money to buy the vehicle then I dont think there is much to do.
2007-04-19 10:48:23 · answer #6 · answered by CaSeY LyNe 3 · 0⤊ 0⤋
first of all u didn't "borrow", you lent them some money and second of all yes u can take the car away from them, providing everything is in ur name and u are the legal owner of the veicle
2007-04-19 10:50:05 · answer #7 · answered by daniel m 4 · 1⤊ 0⤋
only if u have a written contract. also it might be illigal for you to do that as its a civil matter and u dont have a licence to lend money i think u may not be intitalled to do anything if it is verbal agreement contact the citizans advice beuru to see what they think . terry
2007-04-19 10:46:13 · answer #8 · answered by Anonymous · 0⤊ 0⤋
You can't borrow money TO someone --- it's called a loan, as in ---- If I LOAN money to someone....
Grammar is not your strong suit
2007-04-19 11:57:38 · answer #9 · answered by Bill in Kansas 6 · 1⤊ 0⤋
You cannot borrow money to someone you dork
2007-04-19 10:45:26 · answer #10 · answered by Sean JTR 7 · 1⤊ 1⤋