Location: Massachusetts
I stupidly helped an ex obtain a vehicle. Now that I’m moving out of state, I’m trying to decide if I’m better off just taking the vehicle with me rather than hoping he maintains payments on the loan.
The loan is under my name with him as a co-signer. Registration has my name as first owner and his as second owner. Insurance is under my name. Any documentation regarding the vehicle is sent to me. I have the title and all purchase paperwork.
The original deal was for him to refinance it into his name when he could but it has been a couple years now. He says he is filing for bankruptcy at some point this year and cannot guarantee he will be able to keep up with paying the vehicle payments. I have said multiple times that if he cannot maintain payments, that I will to take possession of the vehicle and either pay it off myself or sell it, whatever is needed to no longer be responsible for the loan.
The vehicle is currently his daily driver. When I have asked for the vehicle, he says no. He periodically asks for the second key which I have made it clear I will not give him unless he can afford all of the costs of owning the vehicle and gets it refinanced into his name (which he cannot afford).
Is there a way for me to take the vehicle into my possession without legal repercussions?
Do I have to worry if he reports the vehicle stolen?
Location: Massachusetts
Edit/additional info: The title does not have the leinholder listed (I’m not sure who messed up paperwork, but it is the current title when I checked with the rmv) The title does unfortunately have his name listed under mine.
I am the one who is financially established and have no problem affording going to court and sorting things out. He is drowning in owed taxes (over $17k) and poor spending habits on top of a less than ideal criminal record. Me being me, I offered to help when he and I were seeing each other (yes I know I pick winners). I thought I was saving my ass by having both names on documents, but really I should have put everything in just mine so I would have never had to deal with this situation.