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Can a co-owner take the car from the primary owner if car is paid for in full?
Wiki User
∙ 8y ago
If the car is paid in full and two names are on the title with an "or" (ie. Jane Doe or John Doe) then either of these people can get a new title without the other person's name on it. If the title uses "and" (Jane Doe AND John Doe) then one of the people would have to sign over ownership to the other.
Wiki User
∙ 8y ago
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Who has the right of ownership of vehicle Owner or coowner?
The primary and cosigner on a car note are equal owners. Neither has the "right of ownership" over the other. This is a common misconception. Both may not benefit from the transaction, but both will be negatively affected if the note is not paid.
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?
If car is paid in full does the primary owner need co-owner to sell car?
If the other owner is on the title then they are needed. If the other individual was just a cosigner on the loan then they are not needed to sell the vehichle. This information should be on the back of the vehichle's title.
If I am the primary owner of a car that is paid in full my husband is the co owner can I take the car when I divorce him?
No. If both parties are listed as owners, then both people own the car. Changing the title will require a personal visit to your local motor vehicle department - both parties must be present in order to change the names on the title.
What is the difference on a car loan between a coowner and a cosigner?
Fairly simply, a co-owner owns the car, and possibly the way your phrasing it, the primary responsibility for the loan. Hence, the (co)owner will own the car when the loan is paid off. A cosigner is essentially only a guarantor of the loan receivor. He is also responsible for the payment of the loan to the bank. He has no responsibility, and possibly no rights, in the property it is attached to. I would note that it is possible (and more correct but in a sophesticated lender type of way) that the term coowner would mean that the loan is "cowned" by two (or more)lenders. As in Bank 1 and Bank 2 both own 1 loan on a property, having each given funds and each receiving the benefits (payments from the one receiving the loan) of the loan. This rarely occurs on simple finance transactions so I supect this is not what you mean.
What happen when you buy vehicle from private owner and finance is not paid in full?
The unpaid finances are transferred to you and you should pay them in order not to impound your vehicle. Than you can sue the previous owner.
If my wife paid off a vehicle but it is title in my name am i the legal owner or is she since she paid off the debt?
The simple answer is if the title is in your name, you are the legal owner. However, if there was a contract between you and your wife, she could be declared the legal owner in court upon showing she fulfilled her contractual obligations by paying it in full.
Can you sale your vehicle you paid off even though you never paid the sales tax?
Your vehicle has to be paid in full for you to have a clear title without a lien. If you haven't paid the sales tax, you may not have a clear title that you can sign off to the new owner.
Does a landlord or owner have to have a property insurance?
If the property in question is not paid off and there is still a mortgage to be paid, the mortgage company requires that the purchaser have full insurance coverage on the property. They do not want to lose their investment to a careless fire! If the property is paid for and there is a different person living in the house and paying rent, usually the property owner requires the renter to carry full coverage insurance on the house. I hope this is helpful and answers your question.
How do you spell paid in full in Latin?
paid in full, in latin
Can an owner that has a mortgage sell the property with owner finance?
The buyers attorney would arrange to have the title examined, find the outstanding mortgage in the land records and require that it be paid from the proceeds of the sale. Your lender has the right to demand payment in full upon any transfer of the property. You could owner-finance the property but your mortgage must be paid off at the time of the sale.
How can you find out what the vehicle was sold for you were told that if they sold the vehicle for more than what you owe they have to report that to the credit bureau as paid in full?
how can you find the vehicle that the owner sold?
