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Can the primary signer of a car take it away from co-signer if all the payments were made and up to date by co-signer?
NO
Can a co-signer take over a car loan?
Yes, a co-signer can take over a car loan if the primary borrower is unable to make payments. The co-signer would then become responsible for repaying the loan.
Can a co-signer register a car on behalf of the primary borrower?
Yes, a co-signer can register a car on behalf of the primary borrower if the primary borrower authorizes them to do so.
Who is the primary signer on the car loan?
The primary signer on the car loan is the person who is responsible for repaying the loan and whose credit history is primarily considered for approval.
Can a primary signer of a car loan voluntarly repo a car without the cosigners permission?
More than likely, however you will still end up owing a balance on the car and the primary signer and co signer will still be responsible for the balance.
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.
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.
Who has more legal rights to a car in the state of Indiana The primary or the co signer What if the primary person doesn't have license?
I got car at Drive Time told me take car back and I made all payments on time
Is it legal for a co-owner to take the car from the primary owner if car is not paid for in full?
If you are the only person making payments on a car and you are the primary owner. If the co-signer takes the car and will not give you the car back is there any way to get the car back in your possesion?
What rights does a co-signer have to a car?
A co-signer on a car loan is responsible for making payments if the primary borrower fails to do so. However, the co-signer typically does not have ownership rights to the car unless they are listed on the title.
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.
