Posted on: 20th May, 2011 01:57 pm
Can I put a lien on a truck I loaned my son in law 15,000 for? I have a signed agreement.
Welcome Mikeinnc,
In order to place a lien, you need to file a lawsuit and get a judgment in your favor. Once you receive the judgment, you'll be able to place a lien on the truck.
In order to place a lien, you need to file a lawsuit and get a judgment in your favor. Once you receive the judgment, you'll be able to place a lien on the truck.
Au contraire, Adonis...for Mike to file a lawsuit and obtain judgment is over the top for this situation. What isn't clear, however, is whether or not there is a lien on the vehicle to begin with. That could certainly cloud matters. Mike, did he obtain a loan from a dealer or other lender to cover the difference between price and your loan? If so, that lender is going to have a lien on the vehicle; so anything you do would be subsequent to that lien, and therefore, less enforceable.
That's not necessarily a bad thing, because presumably your son-in-law will pay you back and you'll all end up happy.
That's not necessarily a bad thing, because presumably your son-in-law will pay you back and you'll all end up happy.
