Can I sell a truck that lists my business as the owner on the title?

UPDATED: Sep 30, 2022

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Can I sell a truck that lists my business as the owner on the title?

I started a business with a friend and have been paying all expenses to get the business up and running. My business partner needed a truck and asked me to loan him the money. Our agreement was that he would pay me back

every week and it would be paid back in a couple of months. I bought the truck and the title listed our business as the owner. I kept the title and said he would get it once he paid me back. It has been months 8 and he has only paid me $800. He makes plenty of money but finds excuses every week. Can I sell the truck to get the rest of my money back? Our friendship is over and I have decided I can’t work with him professionally. I want to know if I have the legal authority to sell the truck that is in his driveway but I bought and have the title


Asked on March 5, 2016 under Business Law, Massachusetts


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

If the business is the owner, only the business can sell the truck: a non-owner cannot sell it. If the two of you are 50-50 owners, it may be impossible to get him to agree to sell it without legal action (see below).
What you can do is to sue him for the money he owes you under the agreement between you: it is possible that the suit can then be settled or resolved by him agreeing to the truck's sale and that the money will go to you.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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