A while ago when I went to purchase my jeep I couldn't get a loan so my mom went to her bank and they gave her a loan for like 6k that is in her name only. But the car is in both of our names. I am primary owner. How do I explain this on my bankruptcy forms?
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Did your mom's lender place a lien on the title to the vehicle?
Who has been paying your mom's loan?
If both or your names are on title then, I would presume you have a 50% interest in the vehicle and would indicate that it is co-owned. However, if you and only you have been paying for the vehicle (please answer the above questions as this could get complicated) then you probably have a 50% "legal interest" but a 100% "equitable interest" in the vehicle.
Des. -
Yes there is a lein on the vehicle by the bank that did the loan and my mom pays the billComment
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Good answer. You have a 1/2 interest in a co-owned vehicle.Originally posted by Aswitzer View Post
Please discuss this with a local attorney as he/she will know how to "list" this in your District.
Des.Comment
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Okay thank for the info, ill be doing this pro se. I think I'll leave it the way I have it on my forms now and should be okay.Comment
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