Q: This continuous two my prior question, what constitutes a formal loan document? The challenge for the vehicle rights
The challenge for the vehicle is coming from his soon to be ex wife wanting the vehicle? She’s not on the title never has been at anytime? Again the vehicle was purchased prior to their marriage. I came about taking over the payments in agreeance with my after they went to purchase a new vehicle so they wouldn’t ruin his credit by voluntarily suffendering the vehicle. I have over $30k in payments over a 3+ year stretch that I’ve made all of the payments through my account only.
A:
A formal loan could be documented by a loan agreement, a promissory note, and a security agreement. Because ownership rights in a motor vehicle must be registered, your security interest in the vehicle would be recorded on the title.
Because the vehicle was bought before the marriage, the vehicle is your son’s separate property. Your son should be easily able to show that the date title was registered in his name predates the marriage. It should not be difficult for your son’s divorce lawyer to prove. As your son’s separate property, his wife is not entitled to the car.
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