Chat & Social > The Bar - General Chat

legal deffinition of ownership?

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lambert:
how does the law determine ownership of a car, given a v5 is just the regestered keeper? i.e. if i lent money to a friend to buy a car without a formal agreement  do i have any call on title to it?

Lord Shagg-Pyle:
Civil law is not really my forte, but the V5 is the document that shows 'the registered keeper' and is not a legal proof of ownership.
 If you gave him the full amount of the money then 'technically' it is yours, but you would need to have some tangible proof that you lent him the money. 'My word is my bond' is not worth much these days.

waveydavey:
How was it brought? The receipt from the seller would be the main proof; how good a friend are you still?

Depending on the amount start talking about small claims; fill out the forms and get your 'friend' to verify his details, that will often scare people enough to start talking again.

lambert:
ah ok, missunderstanding. i am being paid back that is not an issue. i'm wondering who owns the car whilst the repayments are still being made, cos on proper hp the company own it till the final payment correct?

Boddle:
 If my memory serves me correctly with regards to Loans the item is owned by the Loaner till they person who loaned the money has payed upto 1/3 the value of the item the loan was for (need to speak to trading standards for that). After that you need to use small claims courts to agree to any action.
 Supprised the Police would have anything to do with it as a loan is generally a civil matter and therefore they have no legal power being a civil matter.

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