Q: Have 2 auto loans, paid one off, bank sent me (wrong) title, refuse to give me paid title until return of other title.
They want me to sign a power of attorney for the vehicle so they can put a lien on it. (which is fine) but can they legally hold a paid off title because of their mistake. i brought their mistake to their attention, have no problem just swapping title. its been 4 months and they wont give me correct title or just swap titles
A: Unfortunately, mistakes with titles are not that uncommon. Usually, you just send the titles back (like you suggested). If the second loan is also with the same bank, this could explain the bank's requirement of a power of attorney (which by itself is an unusual request). Strictly speaking, you probably can get the title without having to sign a PoA, but this would likely require litigation.You may want to consider contacting a lawyer; not to sue the bank, but to increase your bargaining power with the bank and review the documents (a lawyer would likely charge between $100-1,500).
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