Q: Is it possible to keep a vehicle that is not in your name, but you have been making all the payments and insurance?
the person whose name it is in is filing bankruptcy and us keeping their car and i cant refinance until the amount is lower. I am in Tennessee but the original owner is in another state.
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A: The logistics of getting a BR Order with the Trustee transferring Title will be difficult. Once the property is abandoned to the Debtor, he may be able to sign the Title. This assumes the Debtor listed the vehicle in his Petition. It will usually take two years for the BR Case to Close. If the latter will take too long or too much trouble, then forget about that vehicle being titled in your name, and right now it is subject to the Trustee grabbing it.
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A: Generally, as long as the payments are paid on time on the vehicle you can keep it. It sounds like the person who is the legal owner of the vehicle is the one filing for bankruptcy so I would talk to their attorney. I would also be cautious making payments on a vehicle that my name is not on the title.
A: Possibly, if the Debtor uses an exemption to protect the property.
A: If your name is not on the vehicle title, then you are at the mercy of the bankruptcy debtor who it appears has control of the asset, and can make decisions on what happens with it. You should consider speaking with the debtor to determine if they are willing to make decisions that will keep the vehicle in your possession.
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