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Roger, Attorney
Category: Business Law
Satisfied Customers: 31784
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I purchased a new trailer house this past jan. owing a large

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I purchased a new trailer house this past jan. owing a large amount I went to make an online payment the other day and the bank had closed my account. I called the bank and they told me that the loan was paid off and my balance was zero. They also sent the title in the mail with paperwork. Now they are saying that they have made a mistake and they want the title back and they claimed to have re open my account. I've already signed my name to the title. Is it possible for them to take the title back and reopen the account?? This was a mistake that they made
Hi - my name is XXXXX XXXXX I'm a Business litigation attorney in Mississippi.

Unfortunately, YES the bank can get the title back and reinstate the loan. This was a unilateral mistake by the bank, and it won't be penalized this harshly/you won't be rewarded this greatly for the mistake.

If you were to refuse, the bank would sue and ask the court for an order to confirm the lien and debt and also to require the title's return. Unless you can prove that the loan was actually paid off - and that this was not a mistake - then the court should rule in favor of the bank.

You can refuse their request and make them take you to court and get a court order. But if the bank does this, it should prevail.
Customer: replied 4 years ago.
Ok well the only proof I have is a letter that they sent with my account number on it saying the loan has been paid off and satisfied. Would that work? Or would I need something like a voided check with the payoff amount?

No, that's not going to work because that's part of the error/mistake they made. You would have to have proof of payment - - like a processed check or a counter receipt showing payment in full, etc.

I hate the news isn't better, but the law doesn't allow unjust enrichment - - which is when someone acquires property/assets without paying for it.

Roger and 5 other Business Law Specialists are ready to help you
Customer: replied 4 years ago.
Ok I thought It was just a blessing there for a bit haha.. Thank you for you help sir

I understand that and I'd feel the same way! I wish the news were better.

Also, if you have any other questions, just let me know. Here's my link: