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What if the owner of the car passed away and the co signer is still living can the co signer change it to their name?
Wiki User
∙ 12y ago
Co signing a loan does not provide any ownership rights. If the title is in the name of the decedent the ownership will pass to their heirs under their will or under the laws of intestacy. You may be able to obtain a court order if there is a balance on the loan and you have proof that you made payments. You may need to buy it from the heirs, if any. You should consult with an attorney who specializes in probate.
Wiki User
∙ 12y ago
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Can a co-signer repossess a vehicle if a sibling is not making payments?
The co-signer is typically a person who signs for the car loan; the co-signer may or may not be listed as a co-owner on the title. If the co-signer is also a co-owner, the co-owner who is paying the loan can legally take the car. However, if the co-signer is not a co-owner, taking the car would be grand theft auto. Incidentally, if the co-signer is not also a co-owner and the loan falls into default, both the signer and the co-signer will be identified in credit reports as defaulting on a car loan, even though the co-signer did not have or use the car.
If you are the co-owner of a car and will continue to pay on it how will filing for Chapter 7 affect the owner's credit?
It doesn't unless the bill doesn't get paid one way or the other. If you own the car and file for bankruptcy, the co-signer's credit does not change as long as the bill still gets paid. If the co-signer files, the owner's credit does not change unless the bill doesn't get paid.
Can a co signer sue the car owner?
Generally, yes, assuming that the "car owner" is the person who took out the loan that was co-signed AND that the owner defaulted on the loan and the co-signer was forced to pay the balance of the loan. Typically, the main borrower, i. e. the car owner, is primarily liable for the loan while a co-signer is only secondarily liable. This means that the co-signer has no obligation to make payments unless the primary borrower defaults. In most contracts involving co-signers, the contract will have a provision that if the co-signer has to pay on behalf of the primary borrower, then the primary borrower must indemnify the co-signer. If the primary borrower refuses to pay the co-signer, the co-signer can sue the car owner to recover what he paid for the car owner.
How do you go from being a co-signer to being an owner of the property?
The co-signers name must be on the title to the property in order for them to be a joint owner of the property. The owner must put the co-signer on the title to the property.The co-signers name must be on the title to the property in order for them to be a joint owner of the property. The owner must put the co-signer on the title to the property.The co-signers name must be on the title to the property in order for them to be a joint owner of the property. The owner must put the co-signer on the title to the property.The co-signers name must be on the title to the property in order for them to be a joint owner of the property. The owner must put the co-signer on the title to the property.
Who owns the house the owner or co signer?
Check your title paperwork. If the cosigner is listed on the title then you are co owners. If the cosigner is not listed on the title then you are the only owner. More times than not a cosigner is also listed on the title.
How does the primary owner of a car pass the car to the co signer?
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.
How does the primary owner of a car pass the car to the co-signer?
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.
Do I need to change the homeowners insurance when a home is willed in North Carolina?
Sure. When the ownership changes the homeowners insurance must also change. If the owner is not living in the home full time you must change to a different kind of policy. Once a owner is not living in the home for 90 days, coverage ceases no matter whether or not premiums are paid.
If the lender doesn't want the car how would the co-signer take over payments?
The co-signer would make the payments as usual and at the end of the financing, the owner would sign the title over to the co-signer. That is probably not good because the owner would still be financially responsible for the vehicle. The co-signer should refinance it in their name.
Can a co-signer take the car away from the primary driver?
The automobile's title/registration determines the legal owner of the vehicle. Loan documents only concern the signer's legal responsibilities with the bank. If both names are on the title and you as primary are not paying on the loan then it is the responsibility of the co-signer to pay the loan. Since the the co-signer is still co-owner, and they are paying then the co-signer can take the car away. Remember this is affecting the co-signer's credit as well as your credit.
The other joint owner with right of survivorship has died. Do you need to change the deed?
You do not need to change the deed. You should record a death certificate in the land records as a public notice that the joint owner has died and the title automatically passed to you.You do not need to change the deed. You should record a death certificate in the land records as a public notice that the joint owner has died and the title automatically passed to you.You do not need to change the deed. You should record a death certificate in the land records as a public notice that the joint owner has died and the title automatically passed to you.You do not need to change the deed. You should record a death certificate in the land records as a public notice that the joint owner has died and the title automatically passed to you.
What is the diffrece between the primary borrower and the co signer?
The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.
