Legal Question in Real Estate Law in Tennessee
i recently sold my friend a car for 4500 he paid 3000 down and agreed to make payments of 150 every 2 weeks and hasnt made a payment for almost 3 months and has been driving the car for those 3 months. would it be legal for me to "repo" the car?
Asked on 3/25/10, 12:35 pm
1 Answer from Attorneys
Dan Scott
Scott Law Group, PC
Unless you retained a security interest in the car (by virtue of obtaining a written security agreement at the time of the sale) to secure the repayment of the debt, you likely have no rights of repossession.
Answered on 3/30/10, 12:54 pm
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