Legal Question in Consumer Law in California

I repo'd my boat

I sold my boat to a friend and still maintained the financing under my name. I have a written agreement that states if any pmnts were not made by the 15th of the month or there are any bounced checks, I have the right to come and get the boat, not return it and they forfit all money paid up to that point. I repo'd my boat last week after the third time that they had bounced a check to me. Also in the last 2 years they have only made their pmnts on time 4 times. Most pmnts are around the 20th which is when my pmnt is due to the bank. I wanted their money to me so I had time to send out my pmnt and not have it get there late. Was I within my rights to go and get the boat and not return it to them. I was told today that I must give them a 10 day notice prior to the repo or I am in violation of the law here in california even though my contract clearly states that I have the right to do so.. Please help me on this issue...


Asked on 8/01/06, 10:35 pm

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: I repo'd my boat

It depends on what your written agreement says, but I doubt there is any 10 day notice requirement that applies to you. If there was, everybody would hide their cars or boats or whatever and nothing would ever get repoed. You should consult a lawyer in your area right away regarding your legal rights and obligations - obviously I haven't read the agreement and have little knowledge of the facts.

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Answered on 8/01/06, 11:44 pm


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