Legal Question in Bankruptcy in California
My father gifted a vehicle to me 5 years ago, but never put my name on the title. His company is going bankrupt and I was notified by an attorney that my car must be turned over (or the value thereof) because his company (and his partner's personal name) are both listed on the title. Do I have any legal rights? I live in CA and the attorney that notified me via letter is in Idaho. He threatened to sue us if we do not surrender the vehicle.
2 Answer from Attorneys
Unfortunately, this is not a question that is capable of a quick, easy answer. The answer to your question is very fact-intensive, and I hate to say that you will probably need to retain an attorney to review the facts, the allegations of the bankruptcy trustee, and determine if you have a defense available. Unfortunately, even if you have grounds to defend the Trustee's action to recover the vehicle, the cost of defending their action may exceed the car's value. Contact a local bankruptcy attorney - not someone who represents people who file for bankruptcy, but someone who has experience with other bankruptcy matters. Review whether you have grounds to defend the claim, then discuss cost to defend, and before formally defending, you may wish to attempt to reach a settlement with the Trustee over the asset so you can retain it.
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