If a co signer of a car dies, the other person on the contract is still responsible for payment. The person who is deceased is no longer responsible for repayment.?æ
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If the co-signer dies the surviving borrower is responsible for paying the loan.
bank takes back
The other signer is responsible.
If your co-signer dies, the responsibility for the car loan typically falls solely on you. You may need to continue making payments on the loan as agreed, or work with the lender to explore other options. It's important to communicate with the lender and understand your obligations in this situation.
if your on the title be prepared to take over the payments.
Not as long as you make your payments on time. A co-signer guarantees that you will pay your loan off. If your co-signer dies and you don't make your payments the lender will repossess the car and go after you for any deficiencies.
can a primary co signer take the car away from a secondary co signer
Nothing - the other signatory is still responsible for whatever it is that was agreed to.
If your co-signer dies and you still owe money on your car loan, you may be required to repay the remaining balance on your own. The lender may also have the option to repossess the vehicle if you are unable to make the payments. It is important to communicate with the lender and explore your options in such a situation.
If the co-signer of a car loan dies, the responsibility for the loan typically falls solely on the primary borrower. The lender may require the primary borrower to continue making payments or may demand full repayment of the loan. It is important for the primary borrower to communicate with the lender to understand their options and obligations.
If a co-signer on a mortgage dies, the responsibility for the mortgage typically falls solely on the remaining borrower. The lender may require the remaining borrower to refinance the loan in their name or find a new co-signer. If the mortgage is not paid, the lender could foreclose on the property.
The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.