Need Some Legal Advice

[fuzziebutt]

I bought an older truck just to sell it to my brother on payments. The truck was never put in my name, because I sold it to him the same day I bought it. I have the title, but in the previous owner's name. I have a promissary note saying that if the payments are 30 days late, or if full coverage insurance isn't kept on the truck at all times, the truck returns to me. Well, the insurance lapses tonite at 12:01AM. I plan on repo-ing the truck tomorrow, so my question is this: can I resell the truck tomorrow? I don't have to give him so much time to renew the insurance, since I gave him the notice that came in the mail, and he knows it lapses tonight, do I? I wanna get rid of the headache, and the bum brother. He doesn't even have it in his name, yet.

 

[fuzziebutt]

Ever get a complex when no one answers a thread?

 

[EmtheFishLady]

Hope it works out for you.

 

[herefordlovinglady]

I know, I have had unanswered threads before and it is kind of heartbreaking.

My thoughts are: Do you have a bill of sale from the previous owner to prove the truck was sold to you in the first place? You should get the title transferred to your name -- are you sure there is not lien against it from the previous owner?

Those are just thoughts that came to mind when I read your post. As far as giving notice, you have a promissory note, which I assume is specific in the terms of the agreement with your brother. You just need to be sure you can prove the truck is yours to resell.

 

[fuzziebutt]

Yes, I have abill of sale ffrom the origional seller, and it is in my name. So I can repo it with the title, no tag, and lapsed insurance.

 

[they'reHISchickens]

You have the title? It was not retitled in your brother's name? If it was not retitled in your brother's name, he doesn't own it. If it IS in his name, I am not sure you have a case because his title SHOULD have had an encumbrance on it in your name.

 

[fuzziebutt]

He as an Arizona drivers license, and here in Alabama, the thoughest immigration state in the union (woot!) will make him show his birth certificate to get his legal Alabama license. nd he's too lazy to send off for his birth certificate. And he can't register the truck here without a legal Alabama license. Gonna be a crazy day tomorrow!

 

[herefordlovinglady]

Quote:
Do you have a buyer for the truck?

If not, I would get the truck. Get it titled in your name. Tell the title agency that the truck will be in storage and you can avoid getting the tag and insurance until you have a buyer. You will not be able to let anyone test drive it unless you have insurance and tag though. I wouldn't want that liability (no insurance) if something happens in a test drive.

Find out how much it would be to insure it with liability only and how much the tag would be. Unfortunately, if you buy a tag and sell it you do not recap the money for what you paid for the tag.

I am going by what I know through Georgia Law. The laws may be different for you.

Bottom line: the truck is yours. He failed to honor your written agreement. Get the truck.

 

[twentynine]

It's your truck, go get it.

 

[Baymule]

Always make sure if you ever sell a vehicle on time again to keep a spare key. It sure cuts down on the drama.