You need to sign the Certificate of Title over to the co signer so that the vehicle can be legally registered in the name of the co-signer.
The owner of the car is the person listed on the Certificate of Title.The owner of the car is the person listed on the Certificate of Title.The owner of the car is the person listed on the Certificate of Title.The owner of the car is the person listed on the Certificate of Title.
If the other owner is on the title then they are needed. If the other individual was just a cosigner on the loan then they are not needed to sell the vehichle. This information should be on the back of the vehichle's title.
No.
No, the cosigner signs on to the loan. Usually, the primary signer owns the car and drives it. The cosigner is there in case the loan goes into default and needs to be paid for. After they sign on the car does not belong to them, but the person who took out the loan.
No. A cosigner's only obligation is the debt incurred by signing the lending agreement.
Unless you are also on the title you will need to do it through a lawsuit.
If you're insured, the insurance company should take care of the damages, but to answer your question: You're responsible just for the car payments in case the primary owner can't make them.
No, a co-owner cannot sell a car without the primary owner. Both people have to be present for the sale of this car to go through.
No, a co-owner cannot sell a car without the primary owner. Both people have to be present for the sale of this car to go through.
In the State of Texas, the answer would be "YES" as both parties signed for the car loan and both are responsible for the balance due. I was the primary signor but the cosigner had the car and was making the payments. Then she stopped making payments after owning the car for 3 years and the car was repossessed.
No, only the lien holder of the car can repossess it. If the primary on the account can't make the payments, the co-signer becomes leggaly responsible for the debt. No. You have to go through the legal processes and sue for the car. If the primary owner of the car is not making payments and you can prove to the court that you have made the majority of the payments, then you may be able to get the car. You should never co-sign in the future, too much is at stake when you do. If your name is the only name on the registration, then you can take the car from the primary owner - call it in stolen if they refuse to give it up. Technically, the owner is the person on the registration - no matter who pays for the car.
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.