Vehicle problem! Company vehicle in my name.

[lilhelp]

OK, I have a truck which was purchased by my employer (my fathers company) for me to use. It is just a 2000 Toyota Tundra with a salvage title for which we paid $6,800. Problem is the Title is in my name. I don't know why we did that, but we did. The company paid for it in full and owe nothing.

If I file, will they seize and sell it?

Can we transfer the title to the company?

It would really suck to screw my father like that over a technicality.

[shookup07]

We had the same circumstances. Our 2000 Suburban is titled in our name; first secured party is the company name (We do not own the company). We own 0% of this vehicle; it would be turned into the company upon termination of employment. We had no problems with this vehicle during the 341 meeting. I brought a copy of the title; the trustee did not even ask to see it. The truck is still in the driveway, with no threat of the court/trustee taking it. We listed it as a company vehicle on the schedules.

[lilhelp]

We had the same circumstances. Our 2000 Suburban is titled in our name; first secured party is the company name (We do not own the company). We own 0% of this vehicle; it would be turned into the company upon termination of employment. We had no problems with this vehicle during the 341 meeting. I brought a copy of the title; the trustee did not even ask to see it. The truck is still in the driveway, with no threat of the court/trustee taking it. We listed it as a company vehicle on the schedules.

Interesting, but mine has no secured party on the title. Thanks though, hope it works for me too.