Can POA take possession of car in my father's name?
I'm paying the note on a car in my father's name and concerned if other members of the family obtain POA that they will try to take possession of said car once I have paid it off.
Check laws in your state. It may be very easy to transfer a car title. Here, only signature on back of title notarized then transferred at DMV. Of course, he would have to be considered competent to do this.
How long have you been paying on the car? How much time is left on the loan?
Do you have proof you have been paying the car payments. If so, if the car is taken away and sold I would think you would be entitled to ur money back. And any upkeep you have done.
If the car belongs to and is registered to your parent and your parent has assigned a POA, then, yes, absolutely the POA can sell the car, and put the funds in the parent's assets, or basically handle the car in any way he or she would like. Just as the parent, were he or she still functioning, could do whatever he wanted with the car. You should have been on the title of the car, and can be added now if your parent is well and competent enough to go to a Triple AAA office, of DMV with the title of the car, and add you. Family is generally added very easily to the title; we just did that.
If you father is still competent, he should transfer the car into your name. If he can’t or won’t do this, you are posting your money into someone else’s letterbox. Once you have paid the car off, you still have to arrange the transfer, which will probably need to be done by whoever has POA. This is quite tricky legally. Perhaps you could talk to the potential POAs now, and get something in writing to protect yourself. (Are you quite sure that there is currently no-one with a POA? Ask the questions!) If you are using the car for your father’s benefit, that might be a lever. If it all looks too dodgy, and father is no longer competent, get another second hand car and leave the POAs to sort out what to do with this one. And get the POAs to pay you when you use your car for your father.
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How long have you been paying on the car? How much time is left on the loan?
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