Legal Question in Credit and Debt Law in Missouri

Co-owner NOT Co-borrower

I am on the title to a motorcycle along with the ex-girlfriend. Their is a lien on the bike from a local credit union. The loan is only in HER name. She stopped making payments and it is now in collections. I am on the security agreement as co-owner so I will need to hand over the bike as per that agreement. My question is...once the bank has possession, she will have 10 days to either payoff the entire loan or (and I'm not really clear on this) workout payment arrangements? If she pays off the loan AFTER repo...what does that do to MY co-ownership rights to the bike? OR...if she makes arrangements to continue paying for the bike...am I completely off the title after repo? What are my rights as a co-owner in this situation. Thanks in advance for any help.


Asked on 11/26/08, 4:48 pm

1 Answer from Attorneys
Anthony Smith LawSmith

Re: Co-owner NOT Co-borrower

Yours is a situation where you should hire an attorney to examine all the documents and give you a legal opinion. It is too complicated for a simple free answer here.

Good luck

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Answered on 12/08/08, 1:32 pm


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