Is it c+f to take over ownership of vehicle you don't own?

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Anonymous User
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Is it c+f to take over ownership of vehicle you don't own?

Postby Anonymous User » Sun May 06, 2012 5:06 pm

Posting here to be anonymous.

Family (not myself) is in deep financial distress, and may have creditors pursuing them.

Is it a c+f issue to take ownership of a vehicle, and subsequently claim to have partial residency in another state if I don't live there to protect their one tangible asset of value?

Want to help family, but don't want to break the law or threaten my future.

LawIdiot86
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Re: Is it c+f to take over ownership of vehicle you don't own?

Postby LawIdiot86 » Sun May 06, 2012 5:13 pm

Anonymous User wrote:Posting here to be anonymous.

Family (not myself) is in deep financial distress, and may have creditors pursuing them.

Is it a c+f issue to take ownership of a vehicle, and subsequently claim to have partial residency in another state if I don't live there to protect their one tangible asset of value?

Want to help family, but don't want to break the law or threaten my future.


Claiming residency in a state you don't have actual residency in for the purpose of evading creditors via a sham-sale transaction would seem like the kind of think C+F would care about, regardless of if it breaks the law.

The Duck
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Re: Is it c+f to take over ownership of vehicle you don't own?

Postby The Duck » Sun May 06, 2012 5:14 pm

If its liened, you'd own it subject to the lien and they could take it back. If they go into bankruptcy the transaction may be undone even if not liened. If not, why would buying the car from them be illegal? You can register a car in a state you aren't a resident of...

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leobowski
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Re: Is it c+f to take over ownership of vehicle you don't own?

Postby leobowski » Sun May 06, 2012 5:16 pm

Sounds sketchy dude, you don't want to put yourself in a world of hurt b/c of someone else's dumb choices.

Anonymous User
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Re: Is it c+f to take over ownership of vehicle you don't own?

Postby Anonymous User » Sun May 06, 2012 5:20 pm

what if the state is where they already live, and as i go from place to place (and don't intend to stay in state after LS)?

i agree it's sketchy, but i want to help them however much i can without ruining my dreams.

Anonymous User
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Re: Is it c+f to take over ownership of vehicle you don't own?

Postby Anonymous User » Sun May 06, 2012 5:22 pm

Anonymous User wrote:Is it a c+f issue to take ownership of a vehicle, and subsequently claim to have partial residency in another state if I don't live there to protect their one tangible asset of value?


Sounds to me like this could result in some sort of fraudulent conveyance lawsuit.

Maybe it's of more help to your family to make sure you can easily get admitted to a bar without any hangups. You should not be considering doing anything like this.

Anonymous User
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Re: Is it c+f to take over ownership of vehicle you don't own?

Postby Anonymous User » Sun May 06, 2012 5:38 pm

okay. thank you. i just wanted to know what is wrong and right.

NotMyRealName09
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Re: Is it c+f to take over ownership of vehicle you don't own?

Postby NotMyRealName09 » Sun May 06, 2012 8:43 pm

You had to ask whether it was right to engage in fraud to conceal an asset from a family member's creditors? And you plan to be a lawyer? Your scenario is one textbook definition of a fraudulent transfer - a transfer made to a family member for little or no consideration for the purpose of concealing ownership. You would then compound the problem by lying to about your true state of residence? Wow. Just, wow. There was no doubt at all in the scenario you presented that what you intended to do was wrong.

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cantaboot
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Re: Is it c+f to take over ownership of vehicle you don't own?

Postby cantaboot » Mon May 07, 2012 9:21 am

one's eagerness to help the family could mess up one's mind.

CanadianWolf
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Re: Is it c+f to take over ownership of vehicle you don't own?

Postby CanadianWolf » Mon May 07, 2012 9:41 am

Defrauding creditors & lying about one's residency are likely to get you into trouble even though your intentions are good.

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dailygrind
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Re: Is it c+f to take over ownership of vehicle you don't own?

Postby dailygrind » Mon May 07, 2012 11:36 am

Enough. We're not supposed to be providing legal advice, and you're not supposed to be asking for it (from us).




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