Owner/registered keeper dispute
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Beatrice_Eastwood
Posts: 1 Newbie
A complicated issue but will try provide relevant details.
A friend bought a car for me in exchange for 5% of my new business. Legal documents were never drawn up however. He paid for the car but it went from the dealership straight into my name. The car was bought in full.
He is now divorcing from his wife and we agreed that I would pay him back in an extended loan rather than owning a small part of my business.
As the his divorce has progressed I have moved a 7 hour drive away from where he lives and now he has asked for the car back as well. I agreed to return the car and come to an agreement on monies owed. He is demanding I return the car directly to him and insists that I am liable for legal costs if I do not do so.
Who actaully owns the car? Can he force the court to reposses the car and pass on the cost of this process to me? I have been reasonable at every stage as his circumstances have changed. I am happy for him to have the car back but I am unable to physically do this right now as I am cannot afford the time or money.
Any help would be great as this is a fairly urgent matter.
A friend bought a car for me in exchange for 5% of my new business. Legal documents were never drawn up however. He paid for the car but it went from the dealership straight into my name. The car was bought in full.
He is now divorcing from his wife and we agreed that I would pay him back in an extended loan rather than owning a small part of my business.
As the his divorce has progressed I have moved a 7 hour drive away from where he lives and now he has asked for the car back as well. I agreed to return the car and come to an agreement on monies owed. He is demanding I return the car directly to him and insists that I am liable for legal costs if I do not do so.
Who actaully owns the car? Can he force the court to reposses the car and pass on the cost of this process to me? I have been reasonable at every stage as his circumstances have changed. I am happy for him to have the car back but I am unable to physically do this right now as I am cannot afford the time or money.
Any help would be great as this is a fairly urgent matter.
0
Comments
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depends on what sort of friend you are.
you know you owe him the money, he now needs it, so you should find a quick way of getting the money, so you can pay him back
or, if youve decided hes no longer a mate, then he will have to prove that he didnt gift you the money for the car, and take it through the courts, to try and prove otherwise
tbh, how long has it been since you received the car, as the original intention was for him to have a share of your business, im just wondering why, you as the owner, didnt put this into action immediately
You say you have been reasonable at every stage, but your friend did you a favour by paying for a car, now you, are are trying to stop him having his money back, when he needs it. i dont really call that being reasonable, espec as you are asking for ways of stopping him having the car back. Obviously if he sells it, he will only get trade price, and i take it you are viewing the debt as settled, once he has the car?
Just think, if you had sorted out the paperwork for his 5% share, he could be riding some of the losses for your business too.
Really you cant afford the 'time' or money to drive 7hrs to give back what you owe? Obviously the car your 'friend' gave you, can only drive down one way streets?!
Flea0
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