My fiance and his father both cosigned for a car loan 6 years ago while my fiance was still in college and had no credit. Since then, my fiance has paid for every loan payment as well as all of the maintenance on the truck. Now that the loan is 3 months away from being paid off, my fiances father refuses to sign full ownership to him, even though he never attempted to make one payment. What can we do in this situation, as they are both on title and on the loan?
Sorry to hear about your problem. There is nothing worse than family disagreements. Frankly if your fiance does not have any written agreement that says the truck is his at some point in time this dispute is just his word against his father's. If he and his father can not agree on a resolution, your finance is left to sue for one-half the then fair market value of the truck once the loan is fully paid. It may be that this amount is within the small claims court's limits (currently $5,000 in Connecticut).
Of course at that point it is your fiance's version versus his father's version and you have not way to know how the magistrate will rule.
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