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  1. #1
    Join Date
    Aug 2011
    Posts
    1

    Default Co-Owner's Repossession Rights

    My question involves vehicle registration or title in the state of: TEXAS

    I co-signed the note for my friend and business partner. The vehicle is titled in the company name (he and I are 50-50 partners) AND my name. The title doesn't state "and" or "or" between the names; simply the company name and my name.

    He has made 1 payment out of the last 10 and I have made the others. He is not responding to my attorney's contact. Do I have the legal right to go get the car without him having any legal recourse?

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Co-Owner's Repossession Rights

    If he's a principal of the company, he would appear to have the right to give himself access to a company-owned vehicle. As a co-owner with the company and as you apparently have equal rights as co-owner of the company, you would appear to have the right to take and use the vehicle. How he will respond to a conflict arising from your taking the vehicle? I can't answer that. There are some background facts here that potentially complicate things - if this is his vehicle that he is to pay for, why isn't he on the title? Is he taking the position that this is a company vehicle, and thus that the company should be making the payments? If he receives a draw or salary, any chance that he'll agree to have the payments deducted?

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