If my grandpa put a vehicle loan in his name but I make the payments yet the bank is now telling us this is illegal, why and how would this be illegal?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If my grandpa put a vehicle loan in his name but I make the payments yet the bank is now telling us this is illegal, why and how would this be illegal?

Asked on January 16, 2013 under Bankruptcy Law, Utah

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Because it can be seen as an attempt to defraud the bank as to the true owner and driver of the vehicle.  If the bank would not have loaned the money to you based upon your credit, assets, or what ever the criteria and you knew that so you had your Grandfather apply for the loan then it is fraud.  If, however, you are paying his loan benevolently then that is a different story.  But whose car is it?  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption