What happens to title to property if the underlying debt has been discharged?

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What happens to title to property if the underlying debt has been discharged?

I filed and was awarded a bankruptcy Chapter 7 over a year ago. I had borrowed money on a motorcycle and included it in the paperwork.  It was not contested, and I was never contacted from the debtor. Now that I have been discharged, how do I get the title to the motorcycle released from the debtor?

Asked on August 8, 2011 Georgia

Answers:

Mark J. Markus / Mark J. Markus, Law Offices of

Answered 10 years ago | Contributor

I assume you mean to ask how you get title from the creditor (You are/were the debtor).

You get the title by paying off the balance due on the debt owed to the vehicle's creditor.  Bankruptcy discharged the debt, but did not remove the lien against the motorcycle.  Thus, they hold title, and can repossess the vehicle if you don't make the payments.  In fact, if you did not enter into and file a reaffirmation agreement on that debt, they may be able to repossess even if you are current with the payments.

 

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/

Follow Me on Twitter:  @bklawr

Mark J. Markus / Mark J. Markus, Law Offices of

Answered 10 years ago | Contributor

I assume you mean to ask how you get title from the creditor (You are/were the debtor).

You get the title by paying off the balance due on the debt owed to the vehicle's creditor.  Bankruptcy discharged the debt, but did not remove the lien against the motorcycle.  Thus, they hold title, and can repossess the vehicle if you don't make the payments.  In fact, if you did not enter into and file a reaffirmation agreement on that debt, they may be able to repossess even if you are current with the payments.

 

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/

Follow Me on Twitter:  @bklawr


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