In April 2007, my boyfriend needed a new vehicle. He had no credit, so the loan
is 100% in my name. The title
is in my name too, with his name as beneficiary
. We broke up in November 2008.
When we broke up, I drew up a "contract
" stating when payments to me were due and other expectations from him. He has never made a late payment. I have decided that I do not want to deal with him for 3 more years, because it's so stressful seeing him once a month and having to deal with him.
The last provision in the contract I drew up is "MyName can, at any time, terminate the portions of this Agreement pertaining to the truck. If and when this option is exercised, MyName will give HisName 30 days to obtain an alternate vehicle. The truck must be surrendered to MyName either on or before the 30th day. The truck must be in good working order."
I am thinking about exercising this option, but my concern is whether he can sue me for the 2 years of payments ha has already made. Any advice??