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Can the cosigner have the title of the car put in his name jointly if both parties agree?
Wiki User
∙ 11y ago
The loan applicant must be on the title. The co-signer can certainly insist on being on the title to the vehicle. That would make it easier to take possession of the car if the primary borrower defaults.
However, it also makes the co-signer vulnerable as a co-owner of a vehicle being owned and operated by a person with a poor credit history. There may be liability issues in case of an accident. There may be costs if the primary allows the insurance to lapse, or they accumulate unpaid traffic violations and the vehicle is impounded.
A co-signer must make certain they are fully informed before signing their name as the responsible party. The reasons for not co-signing are abundant.
Wiki User
∙ 11y ago
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Who has control of company vehicles with a cosigner?
Control in what sense? Sell them, transfer title? The cosigner guarantee's the loan on the vehicles and would need to agree to selling them and sign the title. You can use them for any purpose, do anything with them including burning them. You will still be responsible for the loan and if not you the cosigner will have to pay the loan off.
Can a cosigner have a primary title holder taken off the title?
If you go to the registration office with the primary and have them give consent to the cosigner
How can one remove a cosigner from an equity loan if the cosigner is not on the first mortgage title?
The title has nothing to do with the loan. The loan will need to be refinanced using a different cosigner or only the primary borrowers.
Can a cosigner drive a car if they are on the title?
yes.
Can you sell a car with two owners on the title if only one signs?
Both parties must agree to the sale and sign the title if the title says "and". If it says "or" you can sell it with just one owner's signature on the title.
Can a cosigner request half of the insurance check if his name is on the title but he didn't have to make any payments or buy insurance?
Cosigner just means someone who guaranteed the note. What's on the title? If the cosigner is on the title, he/she is entitled to half of the proceeds of a sale or insurance liquidation because it's the TITLE that determines the ownership, not who paid for it.
If two people are on the title of an automobile how can one of them be removed and BOTH parties agree?
If the names are joined with "OR" or "AND/OR", either can go to the DMV and have the title changed. If there is just an "AND", they will both have to sign.
After the vehicle title has been issued can the bank request a change of title and have the cosigner added.?
In most states, yes, the lender is actually the 'owner' until the loan is paid off and can require that the cosigner be on the title.
Does a cosigner own the property if he pays off the original loan?
The cosigner of the loan owns 1/2 of the property if they are on the title.
Can the cosigner demand that the car remain in the same state where he or she resides?
No, a cosigner does not have any legal rights to the vehicle, but does have the legal obligation to repay the debt if the primary borrower defaults on the contract. An exception could be if the cosigner is also named on the title to the vehicle, and if so, how the title is worded.
If the cosigner is on the title can they take vehicle if person is not making the payments?
Yes..... I did
If the title has the primary borrower's name first and then the cosigner's name can the cosigner just take the car and make the primary borrower still pay on it but not own it anymore?
What decides the ownership of real property such as a vehicle is the way the title is worded. If the names on the title of the vehicle are separated by the word "and" each party owns an equal share of the vehicle and both have to agree on any action taken. If the names are separated by the word "or" both parties have sole ownership rights and either one can take action without the permission of the other. Nevertheless, one party cannot have the use of the vehicle while the other one pays the financial obligation unless it pertains to a married couple or the involved parties have agreed on such an arrangement. Unfortunately situations such as cited quite often end up in litigation.
