Can I take any legal action to have my name removed from an auto loan based on a verbal agreement?

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Can I take any legal action to have my name removed from an auto loan based on a verbal agreement?

I took my ex-fiance’s name off our house based on a good faith verbal agreement that we made to have my name removed from her auto loan. It has been 2 years now and she has not taken any action. But has successfully bought a house with her new significant other.

Asked on January 9, 2012 under Bankruptcy Law, Pennsylvania

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

The problem that you have with your verbal agreement with your ex fiance' to have your name removed from the car loan for the car she has is that the lender first must agree to your name's removal. My experience is that most lenders once they have people agreeing to be obligated under a loan refuse to have names taken off the loan voluntarily.

The only way that I see your name being taken off the loan is if the loan is paid off or refinanced. You seemingly received a benefit by having her name taken off title of the home she held title with you.


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