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If there are two names on a car title co-signer but the two want it to be owned by only by one what needs to be done?
It depends on how the names are listed, whether they say and or or between the names. In both cases it would have to be one buys the others interest in the vehicle, even if only for $1.00, unless there is a loan and the lienholder holds title. In that case the vehicle would either have to be paid off before a change could be made or the one who wants to retain ownership would have to refinance to change the title. If it says and, it means that one person can't change or sell the vehicle without the express permission and signature of the other. If it says or, it means that either/or have the authority to sell the vehicle or change the title without the express permission of the other, but you still would have to obtain the signature of the other. The key is, IS THERE A LOAN?
What else can I help you with?
If you have a cosigner for an auto loan do both names have to be on the car's title?
The lender will probably insist that all names on the title also be on the loan, but not the other way around.
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 the cosigner register the car?
Yes, the cosigner can register the car if they are listed on the title and have the necessary documentation.
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.
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.
How can I remove a cosigner from a car title in California?
To remove a cosigner from a car title in California, you typically need to refinance the car loan in your name only. This process involves applying for a new loan without the cosigner's involvement and using it to pay off the existing loan. Once the new loan is approved and the old loan is paid off, the cosigner can be removed from the title.
Why is my cosigner listed on my title?
Your cosigner is listed on your title because they are legally responsible for the loan if you are unable to make payments. This provides the lender with added security and ensures that the loan will be repaid.
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.
Why is my cosigner listed on my car title?
Your cosigner is listed on your car title because they are legally responsible for the loan if you are unable to make payments. This provides the lender with added security and ensures that the loan will be repaid.
