What kind of issues may I face if I pay off the repossession of a tractor my ex-wife was supposed to pay?

I bought a tractor with my now ex-wife. Per the divorce decree she is to pay for it and she keeps it. My name is on the loan primary.  For the last few months she hasn’t made the payments and the company contacted me and said they will repossess it and take it to the shop.  According to them, all I have to do is go up there and pay off the balance and the repo fees and it’s mine – no title. If this does happen,  I’m planning on selling it because I don’t need it.  Is this all okay?

Asked on June 14, 2009 under Family Law, Texas

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I'd double check with a divorce lawyer in your area.  There may be other facts that bear on this, and there are variations in the law from one state to another.  And I'd be concerned if the tractor is worth much more than is still owed on the loan.  On the other hand, this might be the best way to keep the damage to your own credit to a minimum.

It's a used tractor -- and getting a lawyer's advice is cheap insurance, against finding yourself in the wrong end of the wringer in court.  One place to find an attorney who can guide you through this is our website, http://attorneypages.com


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