No. Both must sign if both are on the title. Unless the Primary Signer is dead, the cosigner cannot sell the car. Also, having a power of attorney specifically for selling the car will give you the right. Let's say he is overseas and you want to sell the car, you have the right when he signs it over to you (power of attorney). A co-signer is only a guarantee on a loan, not the owner of property. If the owner of the car is still of sound mind and body, only he or she can sell the property.
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.
The co-signer will usually only have to sign if they are listed on the title as a co-owner.
No, both parties would have to be in agreement and sign off to sell or trade the vehicle.
A cosigner can attempt to sell the car at anytime. However, in order for them to sell it, they have to have the other signer's signature.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
Only if the cosigner is also named on the vehicle title.
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.
Yes. That is the point of the lender asking for a cosigner. The cosigner will have a repossession showing on their credit as well as the primary lender.
The cosigner is not able to come and obtain your vehicle for personal reasons or any other reason. A cosigner is not claiming ownership of your vehicle, they are simply vouching for your credibility and agreeing that if payments aren't made that they will uphold the responsibility.?æ
No. A cosigner is just responsible for paying it off if the negligent driver wrecks it and and can't work to make the payments.