Legal Question in Real Estate Law in Indiana

We bought a car for a family member while living with us, younger than 18. The deal was to pay half, and the car would be signed over. If the member left, car did not go with. The member left, and now wants to pay the other half or get their money back. I am not giving the money back, as it didn't make up for the insurance and maintanence we placed on the vehicle while at home. More importantly, the vehicle is in my name only.

Do I have to pay back the money placed on the vehicle? I paid over $3000 in insurace and other costs. I'm not seeing how I have to pay money back to a kid (who is now 18) to use my vehicle when he broke the agreement?


Asked on 9/18/10, 1:14 pm

1 Answer from Attorneys

You lose. He was under 18 and cannot enter into contracts unless ratified at majority. He can rescind the contract and ask you for all of the money back that he has paid. The fact that he is suggesting a different deal is an indication of rescission.

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Answered on 9/23/10, 2:29 pm


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