How Can the Original Owner Retrieve a Sold Mortgaged Vehicle?
2 Answers
If a mortgaged vehicle is sold, the original owner can directly report to the police, allowing the public security department to intervene. Although the vehicle has a mortgage set, the owner still retains ownership of the vehicle. No one has the right to use private means to seize the vehicle, otherwise, it is illegal, and serious cases may lead to criminal liability. Below is additional information: 1. A mortgaged vehicle refers to a vehicle that has been mortgaged to a financial company or individual due to financial issues. 2. From a legal perspective, the sale of mortgaged vehicles is prohibited by the state. 3. Article 406 of the Civil Code stipulates that during the mortgage period, the mortgagor may transfer the mortgaged property. If the parties have agreed otherwise, such agreement shall prevail. The transfer of mortgaged property does not affect the mortgage.
This situation depends on the specific circumstances. First, you need to review the terms of the original mortgage contract. If the loan company's vehicle sale process was irregular—such as failing to provide advance notice or a reasonable repayment period—the original owner might still have a chance to contest it. You could consult a knowledgeable lawyer to examine the contract details and gather materials like repayment records. However, litigation can be draining, so be prepared for a long process. If the other party strictly followed the contract terms and the vehicle ownership has already been transferred, the chances of recovery are slim. I've seen many cases where the owner ultimately accepted the loss, treating it as an expensive lesson.
