0
Can a cosigner take away your car even though payments are not delinquent?
Wiki User
∙ 17y ago
No. Unless the cosigner is also a title holder they have no legal rights to the vehicle.
Wiki User
∙ 17y ago
Add your answer:
Earn +20 pts
If you have a cosigner on a vechicle can they take your vehicle away because he is mad at you?
Yes if his anger is due to your not making payments. Otherwise NO.
What are the rights of a cosigner?
A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.
Do you have a right to take a car away if you are the cosigner?
Well if the original person that you co-signed with defaults on the payments and you are stuck with the payments, technically it is your vehicle and you can take the person to court and take control of the vehicle.
Can a cosigner take the car away from the borrower if he is in default and the cosigner has a key and is paying the payments?
Bill, ONLY if the co-signor is listed ON THE TITLE as CO-OWNER. Co-signors only responsibliity is to make the notes if the signor doesnt. Signor is just USING co-signors creditworthiness.
Does the person who cosigned for you have the right to take a vehicle even if the payments ARE being made on time?
no It depends. Is the cosigner on the title as co-owner? If so, they can take the car whenever they want.If they aren't, well, it's just plain car theft if they do. In other words if you are both on the title and the loan paperwork then both your butts are on the line financially and it's a civial matter if one of you wants the car over the other. But both of you have legal right of access so the police will not make an arrest or intervene if both parties can prove ownership.
What is special forms for making payments when you are away from home?
A Traveler's check can be used to make payments while away from home.
What happens when the signer of a car loan passes away and there is a cosigner as well?
The Cosigned assumes full responsibility of the loan.
My bfs mom is the primary on his car and he is the cosigner They haven't been getting along so she threatens to take away the car Can she do this and what is the easiest way to get out of the loan?
The easiest way to get out of a loan is to pay it off. The bank required whatever signatures are presently on the loan in order to guarantee the payments. It won't let a co-signer remove his name. If your friend has been making all the payments himself then perhaps he could refinance the loan in his own name.
Does a co-signer have the right to take away the car or ask for you to refinance only in your name because you broke up?
Yes, the cosigner is partly responsible for the car. Therefor they can take equal ownership or ask that you refinance in your own name so they are no longer liable if you default on a payment. Remember, missing payments will hurt both of your credit histories so they have a right to protect their reputation. * A cosigner has no legal right to any property unless his or her name is on the title, nor can a cosigner force someone to refinance a loan without taking the person to court and receiving a court order directing the primary borrower to take such action.
What are the possible activities in which a delinquent who runs away from the correction home can be involved?
The child who ran away might have ran do to a feeling of isolation and fear. They have not always escaped to become involved in illegal activities.
Your husband passed away are you liable for his truck payments?
Yes if he didn't have anything to pay it off with when he passed away
If you make double payments for a year for the next year will you be required to make normal payments or can you get away with making no payments until the 3rd year?
You cannot skip a year even if you made double payments for the first year, the bank considers those payments extra and hopefully you made sure the payments went to the principle, not the interest.
