My car was rear ended by a big truck and it totalled my car. now the insurance company wants to pay my car off and give the rest

Asked over 1 year ago - Salt Lake City, UT

to an old friend who's name is on the title. We dont understand why his name is on the title but the loan is in only my name. the credit union said he is holding the title for collateral, i dont understatnd his name is not on the loann. please help me. thanks

Attorney answers (6)

  1. Christian K. Lassen II

    Pro

    Contributor Level 20

    15

    Lawyers agree

    Answered . Contact your old friend so this can be resolved expeditiously.

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  2. Mark John Caruso

    Pro

    Contributor Level 12

    11

    Lawyers agree

    Answered . Most likely the law in Utah deems your friend a co-owner of the car because his name is on the title. I would have expected the insurance company to write just one check with both your names on the check and let you two argue over it. I think that you may have a claim against the insurance company if they write the check exclusively to him and don't also name you as a co-owner on the title. The loan should be paid off by the insurance company, and then the balance should be paid in a single check with both your names on it. (At least that is what would happen in New Mexico....)

    The AVVO response or other communication by Caruso Law Offices does not create an attorney-client relationship.... more
  3. Michael Lynn Walker

    Pro

    Contributor Level 16

    11

    Lawyers agree

    Answered . I concur with my colleagues.

  4. Matthew G Koyle

    Contributor Level 10

    8

    Lawyers agree

    Answered . My colleagues are correct. You have not explained how your friend got on the title or spelled out the terms of any agreement between you and the friend, so this answer may be incorrect if based on assumptions about those facts.

    What I understand from your inquiry is that your friend is on title but that you and your friend do not dispute that you own the car. If only your friend's name is on the title, the insurance company is doing exactly (or nearly) what they should. If your friend will sign the check over to you or pay you the money, there is no problem. If your use of "old friend" just means you have known him for a long time and he does not want to hand the money over, you could bring a lawsuit to sort the matter out after your friend receives the money.

    I am guessing the amount of money is less than $10,000, so you could do it in small claims. The bad news is that if your friend has no money and wastes or uses the money immediately, it will be difficult to collect it from him unless he has a job and does not owe child support.

    Best of luck. If you need assistance with this matter, I would be happy to discuss it with you.

    Providing this answer does not form an attorney-client relationship. Most legal questions are exceedingly fact-... more
  5. Michael Shemtoub

    Contributor Level 17

    9

    Lawyers agree

    Answered . I would try to settle this with your friend. They should be willing to hand the money over to you if the car is not theirs. This might save you some time in fighting with the insurance companies. If you can not settle this with your friend you do need to seek legal advise to help settle the case. You have a rights that need to be protected. I would suggest you make an appointment with an attorney in your area who is in accident law.
    Check out my website below and give me a call for a free consultation if you are a California resident 877-427-2752 or you can email me at Michael@Kingofpersonalinjurylaw.com
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    Check out my website below and give me a call for a free consultation if you are a California resident 877-427-... more
  6. Scott J. Corwin

    Pro

    Contributor Level 18

    3

    Lawyers agree

    Answered . I agree with the responding attorneys.

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