Legal Question in Credit and Debt Law in Indiana

Lien on car

Both my name and husbands is listed on the title of our car. He took the title to get a signature loan and lied to the loan officer saying that only his name was on the title. Only after she had given him the check did she notice my name also, and she wanted me to sign. I refused. Now my husband has lost his job. Must I take up the payment in order to keep the car from being repossessed or is the lien invalid? Thank You in advance.


Asked on 4/26/02, 1:44 am

1 Answer from Attorneys
John Bator Bator Redman & Shive

Re: Lien on car

I assume that the car was pledged as collateral for the loan. If so and you did not sign the note or more importantly a security agreement granting the Bank a lien on the title as security for the loan, the banks security interest may be defective.

However, they may pursue your husband for fraud if he misrepresented the title status in exchange for the loan proceeds-talk to an atty asap.

John Bator

1-317-685-2426

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Answered on 4/26/02, 2:42 pm


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