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It's really a matter between the person that paid your loan off and the lender. That person would have to make a claim against the lender that the funds were misapplied and that it was the lender's fault. They would have to prove that there was sufficient information for the lender to be aware (or should have been aware of the fact) that the funds should have been applied to a different loan. If that occurs, there is a chance the lender could then bring you into the matter and argue that you into the matter saying you received a benefit you should not have received and were unjustly enriched. It would be an equitable argument on the lender's behalf. However, you can always argue that you brought this to the attention of the lender (that you did not pay and believed this was a mistake). That would change the coin as far as any "fairness" argument on their behalf is concerned. There unfortunately is no way to say for certain that "yes" you could have to pay the money back or "no" that will never happen. However, it would take several steps and you are somewhat insulated. It really is unfortunately one of those cases where you have to wait and see if something ever happens. The statute of limitations for the person to sue would be three (3) years.
The lender told us that the source that paid it off was my fiances former employer. Should we call their accounting department and ask questions or just wait? Do we get the lein release signed off at the dmv? They also told us that because the loan was paid over the payoff amount that they would be sending us a reimbursement check for the difference. Do we cash this or just hang onto it and wait?
If the former employer paid off the loan, there's a very slim chance this was an accident, so there's probably nothing to worry about. Yes, you would provide the lien release to the DMV so they can remove the lien from the title. As far as any check for additional funds, you can put it aside if it's large, but it's really up to you - there's probably no reason to except to be overly cautious in the event that someone does later attempt to get money back from you.
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Thank you I appreciate your time and advice
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