Legal Question in Real Estate Law in Florida

I bought a new car with my girl-friend, and my grandfather co-signed for me. Girlfriend and I split, but I have been paying for it, but now have become unemployed. Working odd jobs, but can't afford to pay car payments. I went to the bank and they took the car, and put it on auction. AM I STILL OBLIGATED TO PAY THE PAYMENTS ON THE CAR?


Asked on 10/01/09, 11:44 am

2 Answers from Attorneys
Lesly Longa Longa Law P.A.

I don't understand the question. Didn't you say that the bank repossessed and then auctioned the car?

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Answered on 10/01/09, 11:59 am
Philip Duvalsaint Philip A. Duvalsaint, PLLC

You will be liable for the difference between what the car sells for and what is owed on it plus the additional costs of the repossession and sale. If the car sells for more (not likely) then you might receive the overage. It depends on your agreement.

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Answered on 10/01/09, 12:08 pm


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