QUESTION
Can they call the note due, if we don't go along with this and what are our choices, if any?
Asked on Sep 10th, 2013 on Personal Injury - Idaho
More details to this question:
Before we married, my husband bought a car. After our marriage my husband asked the loan company to put the title in both of our names, which they did. We asked them to do this so that I could get handicap tags, which I did. Now the loan company says they are sorry but we have to take my name off of the title.
6 ANSWERS
Commercial Contracts Attorney serving Boise, ID
at
Peters Law, PLLC
Update Your Profile
It may be that you are not on the loan. Ask them what the problem is.
Answered on Sep 12th, 2013 at 4:17 PM
Criminal Defense Attorney serving Anderson, SC
at
The David F. Stoddard Law Firm
Update Your Profile
I can't say unless I know why they are asking that you do this.
Answered on Sep 12th, 2013 at 4:17 PM
Thomas Edward Gates
Since the loan was taken out by your husband alone the bank cannot now add you since you were not a party to the loan. You would need to refinance the loan to be added.
Answered on Sep 12th, 2013 at 4:17 PM
Personal Injury Attorney serving Charlotte, NC
at
Paul Whitfield and Associates P.A.
Update Your Profile
Don't know why they would do either but your name being on the title I don't know how they would get it off except with a court order.
Answered on Sep 12th, 2013 at 4:17 PM
Ronald A. Steinberg
There is a difference between being on the title to the car and being listed on the insurance. I would find out why the insurance company feels that you cannot be on the title. I don't think they have any control over that, but there could be a valid reason that I have not considered. If you have a crummy driving record, I guess that the insurance company could refuse to insure you.
Answered on Sep 12th, 2013 at 4:17 PM
Chapter 7 Bankruptcy Attorney serving Syracuse, NY
at
Andrew T. Velonis, P.C.
Update Your Profile
Yes they can, and with good reason: the car secures the note. If your husband gives you an interest in the vehicle, he is giving away some of the property rights of the lienholder. What you can do is called a "novation". See if they will re-finance the car in both your names. Or, you can sell the car, pay off the loan and buy a new car, this time putting the loan and the title in both your names from the start.
Answered on Sep 12th, 2013 at 4:17 PM