I have a vehicle that has a loan in my exs name, but the title and registration are in both names. She is holding a family heirloom ring as collateral till loan is paid off. I have made all payments on vehicle since first payment, and never missed one. If she destroys ring, do I still owe for vehicle?
Answer
The ring has nothing to do with the debt, unless you have some contract otherwise. The payor on the loan owes the debt. If something goes haywire (default, etc), sounds like you will be suing each other, as both are owners and there are other factors that could come into play. You should consider seeing an attorney asap if you are concerned about this. Good luck.
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