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    KyRee3's Avatar
    KyRee3 Posts: 1, Reputation: 1
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    #1

    May 5, 2009, 07:23 AM
    Title Possession
    What are the laws regarding car titles, if the title was mailed to me instead of the leinholder by law is that car mine because I have possession of the title, and what if I stopped making payments can it still be repo'd even though I have said title?
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
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    #2

    May 5, 2009, 03:25 PM

    You have a signed contract for a loan so the car can and will be legally repo'ed. I would call the loan company and tell them you were mailed the title by mistake.
    this8384's Avatar
    this8384 Posts: 4,564, Reputation: 485
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    #3

    May 6, 2009, 07:38 AM

    Unless there is no lienholder listed OR you have a lien release, you still need to make the payments. The car can and will be repossessed if you fail to pay. Just having the title doesn't mean a hill of beans. I don't know what state you're in, but in Wisconsin, the vehicle purchaser always gets the title - doesn't mean they don't have to pay the loan on it.
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