What are the procedures to transfer interest of a jointly owned vehicle to one of the parties?

Question

My ex has decided that he wants a more economical car. So instead of trading in the truck he now has (with negative equity) he will just buy a vehicle and dump the truck on me to deal with. What documents do I need him to execute to insure that I hold 100% interest and can transfer it with just my signature at a later date.

Answer 1

You have to inform your bank or lender that you want to take over the vehicle in your name and have him taken off. Or you could both be on  the title on the second vehicle and go get it together also.