Legal Question in Real Estate Law in Oklahoma
Ownership of Automobile
I purchased a vehicle in December in Oklahoma that my boyfriend co-signed on the loan for me. Both our names are on the title, but in an ''and/or'' format. We have recently split and I am living in Texas. He is now threatening that if I don't take his name off the loan/title, he will take the vehicle from me or take other action. I make all of the car payments (on time) and have full financial and mechanical responsiblity of the vehicle. He doesn't contribute anything. I would like to avoid having to refinance, because I am not for certain, even with a way better paying job, if I will need a co signor or not. Does he have any legal rights in this matter?
1 Answer from Attorneys
Re: Ownership of Automobile
This is a sticky situation and another reason you should never be on a note with anyone. With that said, you may want to be frank with the loan company and see if they will release him from liability or allow another co-signer. Technically he has as much right to the car as you since he is on the title...and you have as much right as him to possess the car. No matter what, you should get him off that title ASAP if he is willing to sign his interest over.