Only if the loan has been paid off.
I had this very same instance come up and the police were called. They told me that as long as the payments were being made and you have proof of you making the payments on time, the cosigner has to leg to stand on when trying to take the car. So NO your cosigner can not take the car.
Oh yes it does. That person put their credit on the line when they signed the contract making me a cosigner.
You have very few rights. You agreed to pay for a car that is not yours. Your name can only come off the contract IF the finance company agrees, and they have no reason to agree.
According to the law, a cosigner signs for someone else that they think might not pay off the load. The cosigner signs a contract agreeing to pay the loan off if the other person does not. He can be solely responsible becase he signs a contract promising to do so.
No, a cosigner has no legal rights to a vehicle unless his or her name appears on the vehicle title.
With your good credit you sign a contract to pay off the loan if the original borrower defaults.
The only way to be relieved from cosigning obligations is for the primary borrower to refinance the vehicle. And no, if the person's name is not on the car title they have no ownership rights.
As long as its in HER NAME on the TITLE, you better have a loan contract showing the car as collateral before you 'take" it.
if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner
No, not unless your name is on the title.No, not unless your name is on the title.No, not unless your name is on the title.No, not unless your name is on the title.
It depends on what the title says. The title can say "The owner of the vehicle is Name 1 or Name 2." If the title says this then the cosigner has limited rights to get the car. Whoever has the vehicle can sell the car without the cosigners signature. Now if the cosigner has the car, the cosigner can sell the car without the main owners signature. If the title states Name 1 and Name 2, then you have same rights as the main owner of the car. This means if Name 1 trys to sell it, they can't sell it without your signature.
If your name is on the title, you can take the car. Just make sure he didn't re-titled it after the split.