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Answered 2015-07-14 16:07:03

IF and only IF, the co-signor is listed on the TITLE as co-OWNER, it is NOT a repossession. They are taking their own car. IF they are NOT on the TITLE, its GRAND THEFT. Police or not. CALL a local attorney for state specific advice ASAP.

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Can the cosigner repossess property other than a vehicle if the primary debtor is not making payments?

No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.No. The co-signer has no power of "repossession" unless they are on the title of the financed property. In that case they can "take possession" of the property and pay the loan.


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.


How do you go from being a co-signer to being an owner of the property?

The co-signers name must be on the title to the property in order for them to be a joint owner of the property. The owner must put the co-signer on the title to the property.The co-signers name must be on the title to the property in order for them to be a joint owner of the property. The owner must put the co-signer on the title to the property.The co-signers name must be on the title to the property in order for them to be a joint owner of the property. The owner must put the co-signer on the title to the property.The co-signers name must be on the title to the property in order for them to be a joint owner of the property. The owner must put the co-signer on the title to the property.


Can you co sign for an apartment if you live out of state?

That would be up to the owner of the property whether they would accept you as a co-signer.That would be up to the owner of the property whether they would accept you as a co-signer.That would be up to the owner of the property whether they would accept you as a co-signer.That would be up to the owner of the property whether they would accept you as a co-signer.


What if the property from where the vehicle was towed was a private residence that was owned by somebody else and not the signer of the loan or lease?

If the repossession agent can get to the vehicle without breaking anything or causing a civil disturbance, he can take it. Private, public, or government property, or who signed the loan is irrelevent.


What is the diffrece between the primary borrower and the co signer?

The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.


Can amount for vehicle stay on your credit even after vehicle was sold and judgment entered against co-signer?

Yes.Yes.Yes.Yes.


If one cosigns for a car is the cosigner responsible for any personal property taxes?

Yes - If you live in the state of Virginia.If the person in possession of the vehicle refuses to pay the personal property taxes, the co-signer will have their ss# locked down and be unable to register their own vehicle until the taxes are paid on that joint vehicle.NEVER CO-SIGN ON A LOAN!Very simply - a co-signer of a loan is responsible for absolutely everything as the "other" signer )who may be called primary signer). No difference.So whatever the responsibility, or recourse, (legal or financial) is for whatever action or lack of action required under the loan (and frequently under law too as many times you are considered the owner of any property connected with the loan), you are subject to also.


How does the primary owner of a car pass the car to the co-signer?

You need to sign the Certificate of Title over to the co signer so that the vehicle can be legally registered in the name of the co-signer.


How can a co signer with perfect credit help you get a mortgage loan when you have bad credit?

The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.


Who owns the house the owner or co signer?

Check your title paperwork. If the cosigner is listed on the title then you are co owners. If the cosigner is not listed on the title then you are the only owner. More times than not a cosigner is also listed on the title.


Can a cosigner have his name added to the title after 3 years and sell the vehicle?

Not without permission from the owner. As a co-signer, you agreed to financial obligation without benefit of the material property.


What rights does a cosigner have before repossession?

The co-signer has every right to take possession of the car. In state law they can call the police and hire a tow truck…sorry that the down side to having a co- signer The co-signer has every right to take possession of the car. In state law they can call the police and hire a tow truck…sorry that the down side to having a co- signer The co-signer has every right to take possession of the car. In state law they can call the police and hire a tow truck…sorry that the down side to having a co- signer The co-signer has every right to take possession of the car. In state law they can call the police and hire a tow truck…sorry that the down side to having a co- signer The co-signer has every right to take possession of the car. In state law they can call the police and hire a tow truck…sorry that the down side to having a co- signer


Is the co signer the same as the co buyer?

No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.


What happens if the partner on the mortgage loan moves out nd stops paying?

The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.The remaining co-signer would be stuck paying the mortgage or the lender will take possession of the property by foreclosure.


Is a co signer responsible for property after end of lease if tenants still live in property and are on a month to month agreement in Missouri Lease does not say anything on regards to this?

If the lease has expired and the co-signer has NOT signed the month-to-month agreement, the co-signer should be off the hook.


Can a house be sold with your name on the deed as co-signer?

Deeds don't have co-signers; loans have co-signers. Loan responsibility and property ownership rights are separate. If you are listed as a part-owner of a property it CAN NOT be sold without your signature on the transfer documents. If you are a co-signer on a mortgage loan but are not listed on the deed, you have no property rights unless you have rights under community property laws.


If the primary owner files bankruptcy and has a co-signer can the co-signer continue to pay and take ownership of property?

That's an issue that has to be decided by the court, the lender and the exemption status of the property.


How can a co-signer file bankruptcy on an unpaid vehicle without interfering the credit of the primary signer?

By listing the creditor on the bankruptcy schedules.


Can a co-signer take possession of a vehicle if the payments are a few days late?

It depends onwhat's in the contract. * The co-signer would need to be on the vehicle title as a co-owner or a lien holder before they would be able to take possession of the vehicle.


Can a co-signer on a vehicle file bankruptcy?

Yes, but the court may not allow the bankruptcy to be used to release the co-signer from the financial obligation.


Am I responsible to repay a cosigned mortgage upon default?

If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.


What are your rights as a mortgage cosigner?

If you are not an owner of the property, as a co-signer you are fully responsible for paying the mortgage. You have no other rights in the property.


Does a co-signer have right to the vehicle after it is paid off?

The cosigner has equal right to the vehicle whether it is paid off or not.


How can I get possession my car from co signer?

If your name is listed on the Title then you have all rights to posses the vehicle. The loan instrument doe not construe ownership, the title does. Again if your name is on the title and registration you can Take the vehicle or better yet depending on your situation, call the police (with title in hand) and report the vehicle stolen, this can be a very powerful threat to who ever has the vehicle.