QUESTION
Does my fiancee have to include our shared vehicle in his bankruptcy if its my name on the title?
Asked on Mar 18th, 2013 on Bankruptcy - Montana
More details to this question:
one year ago my fiancee and I each traded in our
owned vehicle to get money off a vehicle we would
lease together. Obviously his credit is not very good,
hence his bankruptcy, so it is only my name on the
title. His name was on the title to the car he traded
in though....so does he still have to include this new
car in his bankruptcy even though on paper it is not
Technically his?
1 ANSWER
Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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3 Awards
If his name is not on title to the vehicle, then he has no ownership interest in the vehicle and it need not be listed. If he is making payments on the vehicle, however, then you must disclose to whom the payments are being made, and why. It sounds to me like he is leasing the vehicle from you, so you should have a separate lease agreement with him for that purpose.
Mark Markus has been practicing exclusively bankruptcy law in California since 1991. He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization, AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.
Answered on Mar 18th, 2013 at 7:20 PM