Arrest, Search, Seizure, Warrant Seizure of a vehicle due to collections

[kgirl1980]

I am trying to determine if a car that I am buying can be seized because of judgments against me due to debt. Here is my situation:

A few months back I made an agreement with a friend to purchase their daughters car. At the time I did not have all of the money needed to buy it outright.

My friends also did not own the car outright as they had a loan though their bank. I agreed to take over the payments on the car until it was paid off. In this process my name was added to the loan so that my name could be on the registration of the vehicle. I am not responsible for the loan in anyway according to what I was told. We did sign a promissory note stating that I would pay the loan off in a set amount of time but thats it.

I am trying to determine that since my name is on the registration if they are able to take the vehicle? Please advise.

Thanks.

Kelsey

 

[army judge]

As long as the vehicle is secured by a note and lien, you are judgment proof, insofar as the vehicle is concerned.


Sent from my iPhone using Tapatalk

 

[kgirl1980]

I don't understand what you just said? I'm sorry, can you make that a little more clear?

 

[mightymoose]

From what you describe... the vehicle does not belong to you or to your friend... it belongs to the bank. Until it is paid off it isn't something that can be taken... and even then they couldn't take it under a number of circumstances.