0
If two buyers are listed on car contract but no co-signer is listed will second buyer be responsible in repossession?
Wiki User
∙ 8y ago
ANYONE who's name is on the loan contract is responsible for the debt. Who will sell someone a car and that someone NOT be responsible for paying?? NOT ME LOL
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
How do you know if you are a cosigner or co owner?
A "Cosigner" is a "Co-owner." Cobuyers and buyers are equally responsible for the note they signed.
Can a cosigner get out of a used car contract in the first 3 days?
No, the buyers remorse law does not apply to the purchase of a new or used vehicle.
If you are a co-borrower not a cosigner are you responsible for repayment of the loan?
Yes, a co-borrower is as responsible for a debt as is the primary borrower. The main difference between co-buyers and cosigners is that a cosigner generally does not have any claims to the property in question but bears the responsibility of repaying the debt should the primary borrowers default on the agreement.
What do house buyers need to know before signing a contract?
House buyers need to read the contract, and know everything the contract ties them in to. And what the contract entitles them to. Also house buyers need to know the penalty for ending the contract early.
Can the buyer do a vol repossession without the co-buyers permission?
A buyer can do a voluntary possession without the permission of the co-buyers if that buyer is the sole owner of the vehicle. If the co-buyers are also co-owners, they would have to give consent first.
When may a buyer cancel a contract?
This question is specific to the buyers contract, you should reference that document to answer this question.
Is winning a bid at an auction a contract?
Yes, it is a contract. You agree to pay the price, plus the additional buyers fee when you bid.
What tasks do buyers agents perform?
Buyers agents represent the buyers in real estate transactions. They work for the buyer in locating desirable properties, negotiating the best possible sales contract and looking after the buyers interests throughout the buying process.
What is a transversal term contract?
A transversal term contract is a contract that allows multiple sellers to provide goods at fixed prices. The contract allows buyers to purchase goods from sellers for a certain amount of time at the prices set forth in the contract.
Can a 19 year old with buyers remorse void a new car sales contract in NC?
Plain and simple; NO.............. You are considered an adult, so you can not void the contract.
What is a mortgage buyer?
A "mortgage buyer" when referring to a private real estate note, would be a real estate investor who will purchase private mortgage notes for cash. These investors are also sometimes referred to as note buyers, promissory note buyers, land contract buyers and deed of trust buyers.
Can you return your car to the dealership after you signed a contract?
Yes, the dealer can cancel the contract but it is within 10 days of the date on the purchase contract.
