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Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 55012
Experience:  Attorney with 29 years of experience.
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Loaned friend $14,000 to purchase used Honda with friend signing

Resolved Question:

Loaned friend $14,000 to purchase used Honda with friend signing note to pay $420 month for 36 months and registered and titled car in joint name. Friend lives in NC and myself in NY. He made first monthly payment but has not made last two monthly payments and is not responding to any of my texts or voice mails and is driving the car. I don't know where he is living and am considering hiring a private investigator to find where he is living and car garaged. I have a set of keys and am considering retreiving the car and then take him to court to have car transferred in my name.. I this small court claim to have him transfer title?
Submitted: 6 years ago.
Category: Legal
Expert:  Richard replied 6 years ago.

Good evening. If you had him sign a security agreement originally when you made the loan and are listed on the title as the lienholder, you can simply go repossess the car and have the DMV change title. Otherwise, you have to first file a claim against him for the default under the note, get a judgment, and then you can go take the car. You won't be able to do this in small claims court because $14,000 is over the limit.

 

 

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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

Customer: replied 6 years ago.
I am joint owner as I mentioned so I did not put on a lien and am already aware that I cannot repo and am already aware the $5000 is maximum limit in small claims so it looks like as I was already aware should just go to a civil lawyer. My main question is it OK for me to retrieve the car since I have the keys and a joint owner?
Expert:  Richard replied 6 years ago.
Yes....you can go get it.
Customer: replied 6 years ago.
Then once I have the car in my posession and hidden will start legal process in civil court to have him sign the title over correct?
Expert:  Richard replied 6 years ago.
That is correct.
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