I bought a car from CarMax. They accidentally sent the title to me. Now they are asking for it back because they are the lienholder. The title is in my safe deposit box and I have no intention of sending it back and I do plan to pay off the car next year. Can I get in trouble if I don't send it back?
1 Answer from Attorneys
You won't go to jail, if that is what you are asking. They likely will sue you to compel you to honor the agreement you made to give them (or the lender) a security interest in the vehicle and/or for the entire loan balance. That won't look good on your record. If you are person to not honor your contract and use a simple error on their part as a "gotcha" then that may not matter.
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