Can I take the car back and sell it so that I can repair my credit score? 4 Answers as of October 18, 2011

I took out a loan for my ex to buy a car 2 years ago. It is registered and insured in my name and I pay personal property taxes for it. He makes the car payment (always late) and pays some insurance payments. This arrangement is negatively affecting my credit and I don't want the responsibility. We haven't dated in over a year and I don't like to have to contact him each month for payment when the bank contacts me. The car's registration has expired because he didn't get the emissions test. Can I take the car and sell it to begin to repair my credit and good name? He won't give it to me and says he has a right to keep it because he's made the payments? He has bad credit and can't get a loan to pay off the car and get it registered in his name. What can I do?

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The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
Technically you own it and it can be argued that you can take what is yours. If he wanted to file a lawsuit against you, then you would have to defend your actions in court and ultimately a judge would decide if you had the right to take it.
Answer Applies to: New York
Replied: 10/14/2011
Coulter's Law
Coulter's Law | Coulter K. Richardson
Unless he has a written agreement for him to lease the car from you, you can take it back. It is your car. Query: Does your insurance list him as an "additional insured?" If not, he is driving without insurance and if he gets into an accident, your insurer will deny coverage.
Answer Applies to: New Jersey
Replied: 10/13/2011
Law Office of Stephen P. Dempsey
Law Office of Stephen P. Dempsey | Stephen P. Dempsey
You may not want to register or insure it in your name. That may be more of a contract question because if he had been making payments under the loan he would be entitled to any equity in the car if it was sold and not you.
Answer Applies to: New Jersey
Replied: 10/13/2011
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