 Bank Fraud or Theft? Please help :(? |
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sandman | How can a vehicle title be transfered without my knowledge or permission? |
A vehicle I cosigned on,and still has an outstanding balance,has had my name removed as owner,and co-owner is now listed as sole owner...I never signed title,certificate to gift vehicle,or any power of attorney...apparently,the finance company got scammed or took part in this,however still has me on the loan and is under the mis-conception I'm going to make good on it even thogh they essentially gave my interest in it away...anyone with legal experience want to give their opinion?
Additional Details
I cannot get a copy of a title not in my name without power of attorney from owner releasing that info...my attorney CAN get a certified copy of the transaction that took place removing my name...original co-owner was delinquint in payments,but had all my contact info changed at finance company,i only realized this thru random check of my credit report,which has tumbled from 780 to 640 because...forgery is obviously involved somewhere..If the finance company thinks I'm going to pay for a vehicle they essentially gave away without my knowledge or permission,I'll spend thousands to put them in their place... |
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Since you ask.
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Contact the Department of Motor Vehicles. |
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SPIFIMAN1
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OK, auto finance is what I do for a living and you must live in a non title holding State.
What has happened is the other signer has transferred the title to his name only. This can legally be done without your permission if the title reads "and or".
When the dealer sent the original paperwork out to the other signer it had to read both names, that's State law. But after that anyone can change the title as long as it reads "and or".
The lender had nothing to do with it and you are still legally liable for the loan if the other signer doe's not pay. |
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wendy.balsam
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im pretty sure that when the actual signer doesnt do what they are supposed to do it becomes the co signers responsibility. thats pretty much why they ask for a co signer. if you pay it off the car would be yours |
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Misty Eyes
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FIRST: Get a copy of the current title (the one not listing your name) and send a copy to the finance company so they don't try and remove money out of your accounts or come after you legally.
SECOND: Ask your local Title Agency who authorized the removal of your name. If you have a copy of the old title (listing your name) take that with you and show it to them. |
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Giddyup
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I would think that legally you would still be part owner. You should've had to have signed off for it to be sold .
It sounds like something you may have to hire an attorney for. You could still be liable if it is ever in an accident...I'd sure want to find out for sure if it were my name... |
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mrklcoac2002
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that CANT happen without your permission and if it does you need an attorney to sue for forgery unless theis person has a notarized statement giving him or her permission for them to sign your name, it's called a power-of-attorney. |
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shelcom
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Notify the local police and press forgery charges. |
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mister ed
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every car which has been few i bought on time i never actually had the title, i had a cert of registration, but not the title -- the title always stayed with the financial lender until the car was paid off. something just nothing sound right about this whole question. i think you need to step back and regroup. |
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thumper
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if you don't know it by now through your attorney the person who made title transfer is in big trouble the loan company is also at fault and what i would do is just make up a new sign and have them put it up over there door now cause you own them .. there is also criminal case pending with the state attorney general right .. and you did contact the bbb and the state banking and regulatory committion right i'd make this thing so bad for them they would give the company to you oh yea you need to open this can of worms to the media... !!! |
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jenetterose85
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My mom co-signed on a car loan for me and when I did pay the loan off I was the main owner, but she still had to sign the title when I sold the car even though I was the main owner. I don't think that it is legal for them to just do that without your signature. If you can be responsible for the main person not making payments, then you should be responsible for what happens to the car later. |
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david a
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I have read the responses you have received. I also have experience in the field of new and used car sales and financing. Spifman1 is correct for the most part, except that you must still sign the title if your name appears on it. The other person on the title cannot remove your name without producing some evidence that you are deceased or a power of attorney. If it were that easy, everyone co-signing for an automobile would have their names removed shortly after the purchase.
Clearly I would contact the Secretary of State of Department of Motor Vehicles and request a copy of the original title. Depending on how long ago the purchase was made, there has to be records at the dealership where the vehicle was purchased. You will need the year, make, model, and VIN number to do your research.
Get the state which issued you the title to provide you with a copy of the original title that shows your name. Then check to make sure the title has been changed. The only way the DMV or Secretary of State can change a title is if the lien has been paid. IF there is still money due on the lien, then NOTHING on the title can be changed. That is one of the downfalls of being a co-signer.
Check with the lienholder and see if the account is paid in full. If not, bring it to their attention that the title has been modified and they will have their legal team check into the matter. If there has been a violation then their pack of lawyers will file forgery charges against whomever did the nasty deed.
If there is a balance still due ... then you are still responsible for the loan just as the maker is, regardless of what the title says on it. The finance company is concerned with their contract ... the car is just collateral.
One other ploy you can use ... go to the DMV or Secretary of S tate, which ever you have and tell them you lost your title and want a duplicate. Make sure you have the year make model and VIN. That will help raise flags on the government end.
Good luck ... also be aware this is not going to be resolved over night ... so take each step with good thought and exercise good patience. |
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OC1999
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Something does seem to be missing here. If the car is financed, then the finance company is the one who has the title. I am not aware of any way to be able to legally do an transfers without the actual title to the car. I would think that the DMV or finance company would have stopped any changes in the title.
Now, if in fact they do stop paying your will have to continue to pay on it, if your name is on the title or not. This is in order to not mess up your credit history. The next action is to file a suit against them for the money you have paid. Since the loan documents have you as a co-signer that is probably all the judge will need to rule it in your favor. This would also be the place where you might be able to find out how they got your name off of the title. |
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