Last month I bought a vehicle from a co-worker. on 08/11/05 she had the vehicle towed from our work and hidden because I was late on one payment. She stated to me that since I was late our contract is void and she wants the vehicle back and gives me no other options. I explained to her ahead of time that I would be late due to an unforseen family emergency that required my immediate attention. (Father was critically injured)
When I bought the vehicle, the title of the vehicle was lost so we had to file for a new one. I then found out that the title was not in her name, in fact it was still in the name of the person that she bought it from. So I had to go back to that person and get the bill of sale and lost title form and title transfer form from that owner and transfer the title.
As of right now, The title is entirely in my name and I am the legal owner of the vehicle according to the Department of Motor Vehicles. There is no lien-holder listed on the vehicle either.
When I bought the vehicle from the co-worker. We worked out an agreement on paper stating the amount she was selling it for and a payment schedule showing all the dates and amounts to be paid until paid in full. There were no other rules on this agreement stating what would happen if I was late or anything. She and I both signed it.
My question is: does she have the right to take my vehicle when she is not listed anywhere on the title? Is what we signed considered a contract or a bill of sale? What are my options?