Results 1 to 3 of 3
  1. #1
    Join Date
    Oct 2007
    Posts
    27

    Default Business Partner Will Not Turn Over Vehicle

    My question involves an auto loan or repossession in the State of: Michigan

    My Dad is mentally I and cannot handle simple things these days mostly due to the over last 5 year arrangement and "robbery" by his "nowhere on paper" business partner.

    He purchased a small commercial building in about 2008 and started working with a local guy. All business partnerships were verbal and nowhere in writing. The guy racked up credit card debt, had my dad buy vehicles in his name under his credit, and nowhere did he ever give my dad a cent of profits of any of the work going on; just promises of a plan. He did pay insurance and some vehicle payments until about a year ago.

    My dads building is past tax seizure and honestly not worth us trying to recover. There was a verbal agreement his "partner" would eventually buy the building, would keep up on taxes, and well, none of that ever materialized. Just more debt on my Dad who was in good faith under all sorts of verbal promises.

    There's two vehicles in my Dad's name on a property nearby (his partner has a neighboring property). My dad doesn't have access or even keys for these vehicles. The vehicles are also stored inside at night and may not even leave the property during a normal day.

    The partner has stopped giving him money for the car payments or insurance and we want the vehicles back. One vehicle was paid in cash, the other was a no money down loan so the bank has interest. We'd like to get both vehicles back and sell them to avoid problems with the bank.

    What is the best possible routes of action to recover the vehicles? Do we just stop paying and make it the bank's problem? Do we report them stolen/missing? If reported stolen, is that fraud if we have an idea where they're at? Again, both are in my dad's name. I think one vehicle was paid for by the business partner and he may be able to show it, but considering my dad is probably hit by 100k of debt by this guy and if challenged could probably show they were in fact in some kind of business arrangement and open the door for more damages. He's probably not challenge who paid what.

    Again, my dad is mentally incompetent right now (SSID) and in really bad shape. His mental issues are caused by his screwed up relationship with this what appears by all indications fraudulent partner. This guy really needs to go to jail for a long time for what he's done.

  2. #2
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Business Partner Will Not Turn Over Vehicle - Fraud - Repo Options

    Presumably, if your father is mentally incompetent, the first thing to do is obtain court ordered guardianship over him.

  3. #3
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Business Partner Will Not Turn Over Vehicle

    Quote Quoting ilovechicken
    View Post
    My Dad is mentally I and cannot handle simple things these days....
    You indicate later that your father is not mentally competent. If he's no longer competent to manage his own affairs, you can petition a probate court to become his conservator such that you're authorized to act on his behalf for financial matters. If he's not mentally competent, he can no longer grant you power of attorney.
    Quote Quoting ilovechicken
    mostly due to the over last 5 year arrangement and "robbery" by his "nowhere on paper" business partner.
    If your father wants to dissolve the business partnership, he may do so.
    Quote Quoting ilovechicken
    The guy racked up credit card debt, had my dad buy vehicles in his name under his credit, and nowhere did he ever give my dad a cent of profits of any of the work going on; just promises of a plan.
    Again, if your dad wants to end the partnership, he can do so.
    Quote Quoting ilovechicken
    There's two vehicles in my Dad's name on a property nearby (his partner has a neighboring property).
    When you say the partner "had my dad buy vehicles in his name under his credit", by "his" you're talking about your father? And these are the vehicles?
    Quote Quoting ilovechicken
    My dad doesn't have access or even keys for these vehicles. The vehicles are also stored inside at night and may not even leave the property during a normal day.
    Generally speaking, the title owner can get replacement keys through a dealership with proof of ownership and the VIN. Your father can explore that option. Recovering vehicles from somebody else's property, particularly if it's locked property, can be problematic.
    Quote Quoting ilovechicken
    Do we just stop paying and make it the bank's problem?
    If that's what your dad wants to do, and he's willing to accept the harm to his credit, then he has that option. What does your dad want to do?

    Note, if you become your father's fiduciary you will have a duty to property attend to his assets and bills, and abandoning property may not be consistent with your duties. It is not clear whether your father has sufficient funds to retain a lawyer to review the facts and potentially litigate against the partner, nor is it clear what can actually be proved in relation to the past dealings and financial transactions.
    Quote Quoting ilovechicken
    Do we report them stolen/missing?
    No, you would not want to file a false police report. The vehicles were not stolen and they are not missing.
    Quote Quoting ilovechicken
    I think one vehicle was paid for by the business partner and he may be able to show it, but considering my dad is probably hit by 100k of debt by this guy and if challenged could probably show they were in fact in some kind of business arrangement and open the door for more damages.
    You need to figure out who paid for the vehicle(s) and in whose name they're titled. Your facts are not consistent.
    Quote Quoting ilovechicken
    He's probably not challenge who paid what.
    Perhaps not, if you get the facts right - but if you claim your father paid for a car that turns out to both have been paid for by the partner and/or in the partner's name, I expect he'll dispute your errors.

    1. Sponsored Links
       

Similar Threads

  1. Business Finance: Business Partner's Spouse Liquidated the Business After He Died
    By st-johns-river in forum Business Law
    Replies: 2
    Last Post: 05-19-2013, 01:27 PM
  2. Starting a Business: Business Law for Business Partner Who is Not an USA Citizen
    By apartsteve in forum Business Law
    Replies: 1
    Last Post: 08-04-2012, 08:07 PM
  3. Discovery: Buisness Partner Refuses to Turn Over Financial Records
    By fisherofmen in forum Civil Procedure
    Replies: 3
    Last Post: 02-15-2012, 08:03 AM
  4. Business Ownership: Business Partner Wants Me to Sell
    By KateMM1976 in forum Business Law
    Replies: 2
    Last Post: 07-04-2008, 08:40 AM
  5. Defamation: Defamation by an Ex-Business Partner
    By bpvmcdish in forum Defamation, Slander And Libel
    Replies: 2
    Last Post: 01-15-2006, 12:00 AM
 
 
Sponsored Links

Legal Help, Information and Resources