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If the cosigner has the property can the primary loan holder take the property away?
Wiki User
∙ 8y ago
Better make that "ex-friend". If the payments are not made, the finance company will take the furniture, but it sounds like you have been s*****d. The furniture store probably has an order stating the furniture was delivered to HER house and the finance company has a document that says YOU will pay for it. This sounds like you bought it as a gift.
I think the other person was trying to answer - but maybe a little sarcastically. Anyway the way I think it goes is - if the furniture company sold the furniture to her, then you cannot take it away because its hers. However, if the sold it to you, then you can. But it sounds like they sold it to her and you just signed for the loan for her.
Wiki User
∙ 8y ago
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Can a cosigner take away your car even though payments are not delinquent?
No. Unless the cosigner is also a title holder they have no legal rights to the vehicle.
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What considered to be recreational property?
Places like a beach, lake, or campground are considered to be recreational property. They are not typically associated with a primary residence but rather a place to get away for a few days.
Does a co-signer have the right to take away the car or ask for you to refinance only in your name because you broke up?
Yes, the cosigner is partly responsible for the car. Therefor they can take equal ownership or ask that you refinance in your own name so they are no longer liable if you default on a payment. Remember, missing payments will hurt both of your credit histories so they have a right to protect their reputation. * A cosigner has no legal right to any property unless his or her name is on the title, nor can a cosigner force someone to refinance a loan without taking the person to court and receiving a court order directing the primary borrower to take such action.
Does a cosigner have rights to the car if the owner passes away?
No. Not unless they are also listed on the title. A co-signer simply agrees with the bank to pay the loan if the primary borrower fails to pay. Co-signing doesn't grant any ownership interest in the property. If the co-signer pays for the vehicle they may be able to make a claim against the estate or sue to gain ownership of it.
If the primary holder on a credit card dies who is responsible for outstanding balance?
In most instances the account holder is the only one responsible for the debt. If the deceased was married and lived in a community property state, the surviving spouse could be held accountable for the debt depending on the circumstances. One factor would be the state probate laws and what nonexempt assets might be part of probate proceedings. 2nd Answer Joint cardholders are equally responsible for the debt with the primary cardhold. If the primary has passed away, the joint will be responsible for timely repayment of the debt. Authorized cardholders are not responsible for the debt at all. If there is no joint cardholder, the regular estate laws for your state apply.
Can a primary card holder's name remove himself from an account leaving only the secondary card holder's name?
Any account that carries a balance that is owed by both parties will not go away when one party takes their name off an account. That will not work that way with the lender.
What is Per stirpes with regard to life estates?
Per stirpes is a method of distributing property or assets. In the context of life estates, per stirpes means that upon the death of the life estate holder, the property or assets will be passed down to their descendants in equal shares. If a descendant has already passed away, their share will be distributed to their own descendants. This method ensures that the property or assets are distributed among the descendants of the life estate holder.
Can a cosigner on a car loan take the vehicle away from the person if they changed their mind about being a co-signer?
No. A co-signer has no legal rights to the property. They are responsible for the debt incurred until the terms of the lending agreement are fulfilled or refinanced without their participation.
What are the rights of a cosigner?
A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.
If you have a cosigner on a vechicle can they take your vehicle away because he is mad at you?
Yes if his anger is due to your not making payments. Otherwise NO.
What happens when the signer of a car loan passes away and there is a cosigner as well?
The Cosigned assumes full responsibility of the loan.
