Can Any Entity Title a Leased Vehicle
No, at no point during the lease agreement does one actually own the vehicle, it remains the property of the leasing company. What that means is that the dealership or fleet leasing company owns the vehicle and is legally responsible for it. A vehicle's title is registered in the name of the owner. With a leased vehicle, the leasing company holds the registration, so their name will appear on the title. Leased vehicles for trust or business purposes must be leased under the trust or business name from the original contract, it cannot often be transferred to a new entity without permission from the leasing company.
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Can An Individual's Car Be Taken in A Judgement For Debts Other Than A Car Loan
Yes, a vehicle may be taken by a creditor to pay certain delinquent debts even though one has no car payments and owns the title to the vehicle free and clear. This process is referred to as levy in aid of execution and is carried out by the ...
How Many Vehicle Trusts Should Be Created
Logically, separating each vehicle into its own trust, in case of any accidents, will have the most benefits.
Can This Remove A Car Loan
Debt Removal Secrets will not work if one still possesses the vehicle. A vehicle/home/boat is considered a secured debt because an asset can be seized. If the the car is no longer in one's possession, the debt / derogatory mark itself can be removed ...
Is Vehicle Trust Required To Have A Bank Account
Yes, almost certainly. Unless one can afford private insurance (~$25,000 deposit in mutual trust with Secretary of State), public insurance is required. The insurance company will legally require the payments (check, wire, credit card) be in the name ...
How Much Will Taxes Be With Vehicle Sold To The Trust
If the vehicle is sold for $1 then the taxes are minimal. Notify the State’s DMV through a Bill of Sale of the transfer. Keep paying the car loan, if any, but now through the trust’s bank account.