Legal Question in Real Estate Law in Indiana
Ownership of Vehicle
I purchased a vehicle with a loan in my name only but I put my name and my girlfriend's name on the title. We split up. I told her to move out. She said she talked to an attorney and demanded that the car is hers because her name is on the title also. What do I do?
1 Answer from Attorneys
Re: Ownership of Vehicle
A vehicle is not real property. However, the joint owner is entitled to one-half the equity in the vehicle (the equity is determined by subtraction of the balance due from the value). Offer the equity in exchange for an executed power of attorney from the Bureau of Motor Vehicles (allowing you to sign her name to transfer the title to you later). Optionally, offer to title the car to her when she gets it refinanced - subject to your 1/2 equity.
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