Legal

Ask a lawyer and get answers to your legal questions

Ask a Lawyer,
Get an Answer ASAP!

This answer was rated:

I am loaning my brother money to buy a car. How can I

protect my interests if, for...
I am loaning my brother money to buy a car. How can I protect my interests if, for example, the car is in an accident or if something should happen to my brother? Can I be a lienholder? What are my options?
Show More
Show Less
Ask Your Own Legal Question
Answered in 5 minutes by:
7/11/2018
Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 57,213
Experience: Attorney with 29 years of experience.
Verified

Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

Ask Your Own Legal Question

Good afternoon. You want to be a lender without being on the title. Have him sign a promissory note and a Security Agreement giving you a lien on the car to secure payment of the note. Then, file a UCC-1 with the Secretary of State. Also file the notice of lien with the county DMV. This will give you the right to repossess the car if he defaults, but since you will not be a title holder, you will have no exposure to any liability of your brother with regard to the car.

Thank you so much for allowing me to help you with your question. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (i.e., 4 or 5 stars)(hopefully Excellent/5 stars!). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

Ask Your Own Legal Question
Customer reply replied 1 month ago
Is a promissory note used in addition to a loan contract or will the loan contract be sufficient without the promissory note? Is the Security Agreement the 'notice of lien'? Thanks.

The loan contract would basically be the promissory note. The Security Agreement would be the document giving you the lien. Then, the UCC-1 is a Notice of the lien. And, the DMV has a specific form for you to sign evidencing that you have a lien on the title.

Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 57,213
Experience: Attorney with 29 years of experience.
Verified
Richard and 87 other Legal Specialists are ready to help you
Ask your own question now

Thank you so much for the 5-star rating! I know rating takes an additional step and I truly appreciate you taking the extra time! It's been my honor and privilege to help you with this. If I can help you in any way in the future, I'll be happy to help. For easy access, my bookmark is: www.justanswer.com/law/expert-legalbeacon/ . Or, simply request “Richard only” in the first line of your question.

Ask Your Own Legal Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Richard Your Own Question
Richard
Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 57,213
57,213 Satisfied Customers
Experience: Attorney with 29 years of experience.

Richard is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it.

LeeMichigan

< Previous | Next >

Meet the Experts:

Ely

Ely

Counselor at Law

24,658 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

INFOLAWYER

INFOLAWYER

Attorney

22,843 satisfied customers

Licensed attorney helping individuals and businesses

JPEsq

JPEsq

Attorney

2,132 satisfied customers

Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor

Law Educator, Esq.

Law Educator, Esq.

Attorney

44,266 satisfied customers

JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law

Ellen

Ellen

Lawyer, Consultant

8,238 satisfied customers

25 years of experience helping people like you.

Guillermo Senmartin

Guillermo Senmartin

Lawyer

301 satisfied customers

Principal Attorney at Guillermo J. Senmartin, P.A.

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

17,183 satisfied customers

Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.

< Previous | Next >

Related Legal Questions
I want to buy my daughter and fiancé a car to help them out.
I want to buy my daughter and fiancé a car to help them out. I can't register the car in my daughters name and if I register it in the fiancé's name I want to make sure I can get it back if they split… read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
Doctoral Degree
44,266 satisfied customers
I live in Pennsylvania. Almost a year ago I purchased a
I live in Pennsylvania. Almost a year ago I purchased a vehicle at a local dealership ( a buy here pay here) operation. A couple days ago I found a GPS tracking device had been installed in the vehicl… read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
38,256 satisfied customers
I have a Power of attorney brother. He was in an auto
I have a Power of attorney brother. He was in an auto accident in 2013. As far as I am aware, he was not injured. He purchased a car from as small used car lot where they carried the paper. My brother… read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
38,256 satisfied customers
I sold a car to someone while agreeing to accept payments,
I sold a car to someone while agreeing to accept payments, that person transferred registered ownership with the Ca. DMV while I remained legal owner/lien holder. They made one payment and I now inten… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,462 satisfied customers
I helped a friend buy a car. The loan is in both of our names.
I helped a friend buy a car. The loan is in both of our names. The registration(owners) card has both of our names on it. She has the car I have no control over it. She has insurance in her name only … read more
Tina
Tina
Doctoral Degree
83 satisfied customers
I purchased a abandoned vehicle from a guy who had it in storage
I purchased a abandoned vehicle from a guy who had it in storage for over 5 years with no contact or payment from owner or lein holder. I have had car for 6 months and found the lein holder who refuse… read more
Brent Blanchard
Brent Blanchard
Solo Practitioner
Doctoral Degree
1,964 satisfied customers
my fiance and I are buying a second home in illinois. We live
my fiance and I are buying a second home in illinois. We live in California. The mortgage company sent a disclosure that states that the borrower is the only one that can be on the deed. How do I get … read more
P. Simmons
P. Simmons
Attorney
Doctoral Degree
37,253 satisfied customers
I own outright with the title a 1995 Ford Taurus. Last year
I own outright with the title a 1995 Ford Taurus. Last year I got a debt consolidation loan from American General. My car title was used as security for the loan. I also had a cosigner. Last summer th… read more
Dwayne B.
Dwayne B.
Juris Doctor
28,766 satisfied customers
Hey my mother in law is listed as the first lien holder on
Hey my mother in law is listed as the first lien holder on my car that was siezed by a creditor from 10 years ago what now… read more
Linda Roch
Linda Roch
Attorney
Doctoral Degree
529 satisfied customers
I am going to buy a Ford Focus used car for my brother. I
I am going to buy a Ford Focus used car for my brother. I wish for him to have the title in his name but I want to prevent him from being able to sell the car. Is there some way for me to issue a temp… read more
FLACORPLAWYER
FLACORPLAWYER
Doctoral Degree
1,750 satisfied customers
I am the lien holder on my ex-boyfriends honda element. He
I am the lien holder on my ex-boyfriends honda element. He borrowed money and used his car as collateral. am I legally responsible if he gets into an accident? and how do repo the vehicle, since he is… read more
Cedric
Cedric
Attorney at Law
Doctoral Degree
2,088 satisfied customers
QUESTION IS MY NEPHEW IS GETTING A DIVORCE.THE JUDGE AWARDED
QUESTION IS MY NEPHEW IS GETTING A DIVORCE.THE JUDGE AWARDED THE SUV TO HIS EX-WIFE THE SUV IS REGISTERED TO MY BROTHER WHO OWNS SAID SUV THE TITLE SHOWS MY BROTHER AS THE OWNER HE HAD LOANED IT TO MY… read more
Ray
Ray
Lawyer
Doctoral Degree
33,786 satisfied customers
I have a car loan with a local dealership in the city I live
I have a car loan with a local dealership in the city I live in. My question to you is - Can a car dealership legally repossess your car for having a lapse in coverage for car insurance..and chrged a … read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
Doctoral Degree
44,266 satisfied customers
A car paased a red light and hit my car. No personal injuries.
A car paased a red light and hit my car. No personal injuries. The insurance declared my car as " total loss" . Insurance company told me they will pay the card to the lien holder. I need the car but … read more
Brandon M.
Brandon M.
Attorney at Law
Juris Doctorate
12,463 satisfied customers
How do we get rid of a car if the lienholder wont repo it
How do we get rid of a car if the lienholder won't repo it? The loan is $4000 and the car value is $300. The loan was charged off and it's sat in the driveway for 3 years now. We called and asked them… read more
MShore Law
MShore Law
Doctoral Degree
1,233 satisfied customers
I cosigned on a car loan for my brother and I am not on the
I cosigned on a car loan for my brother and I am not on the title of the car. Recently he has not been paying for the car payments and they have been coming directly out of my account. I can not affor… read more
NewYorkLaw101
NewYorkLaw101
Senior Associate
Juris Doctor
439 satisfied customers
Im purchasing a vehicle for my son. What risk do I take if
I'm purchasing a vehicle for my son. What risk do I take if the title is in my name and he causes an auto accident?… read more
JD
JD
Doctoral Degree
1,328 satisfied customers
Iam trying to remessage and fourth attempt with still acct.
Iam trying to remessage and fourth attempt with still acct. I am still trying to understand answer. How can a 2nd line of credit loan who is attached probably about 25% of value of collaterial of hous… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,462 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x