Legal Question in Credit and Debt Law in New York

Repossession of joint property

Myself and my partner have both of our names on the title of a boat valued at 12K purchased and registered in New York State. Currently he is having financial difficulties and collection agencies are involved. There are just a few more payments for him to make on the boat mortgage. My question: What rights do I have if the situation evolves into repossession or lien? Additionally; do I have any rights if my name is on the registration only. Thank you.


Asked on 7/01/01, 12:36 pm

1 Answer from Attorneys
Garry Hanlon

Re: Repossession of joint property

New York is a title state. If your name

is not on the title you have no rights

vis a vis the creditors

You can always purchase the paper from the

creditor by paying off the loan, then you

foreclose, and you get the boat

Read more
Answered on 7/03/01, 10:10 pm


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