Legal Question in Real Estate Law in Michigan

Auto Loan Lien

I financed a car through bank and the bank screwed up and gave me the title. A year later the bank realized its error and now wants the title back. The bank has written to me saying if I do not send them the title I will be in default on the loan and they will demand full payment of the loan. Is this a bluff to get me to send them the title or can they really declare me in default?


Asked on 3/18/09, 11:08 am

1 Answer from Attorneys
Renee Walsh LawRefs Nonprofit

Re: Auto Loan Lien

You would have to look at the terms of your contract. The law will not allow a party to a contract to have a windfall if it is not justified. Furthermore, a party should not profit from another party's reasonable mistake.

Consider whether the position you are taking is worth the possibility of a lawsuit.

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Answered on 3/18/09, 1:34 pm


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