Legal Question in Personal Injury in Maryland
I am the primary borrower on a loan for my ex bf. We bought the car 3 years ago and the final pay is due next year to clear the loan. He has never defaulted on the loan but he did recently (twice). My name is on the title and since he has paid for the car since it was bought, I need to know what my rights are.I plan on severing ties with this person in regards to this car and loan. I am willing to pay for the car myself if I can legally seize it. What legal recourse are there for me? Would I have to file a petition with the courts in MD?
1 Answer from Attorneys
When you say "my name is on the title" and "we bought the car" do you mean it is jointly owned by both of you? If it is owned jointly, then the other owner would normally enjoy rights to use the vehicle and it would be problematic to block their access.
In Maryland, it is possible to legally force a sale of jointly owned property with a resulting split of any sale proceeds, but you would need to pay off the loan first. Often the best solution for jointly owned assets is to negotiate an agreement with the other owner to either assume the loan and get the title (you would need the lender's permission) or refinance with title in only one name and perhaps a cash payment to the person who is not keeping the car (to compensate for their equity interest).
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