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No, the primary borrower would need to refinance the vehicle in their name only or with a different co-signer. Person's who agree to being a co-signer usually do so with good intentions of helping out family members or friends. Unfortunately it often turns out badly with the co-signer getting "stuck" with the debt and problems with their personal credit.
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∙ 18y ago
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If the cosigner is refusing to refinance or pay the auto loan off how could the primary person on the auto loan remove his or her name?
They would need to have the vehicle refinanced in their name only or obtain another cosigner for the refinancing.
Can a judge order you to remove your soon to be ex-wife as a cosigner in divorce court if the title is in your name?
Yes. The judge can order the spouse who is keeping the vehicle to refinance it in their name only.
If your a cosigner and want to remove your name before the loan is paid off will this affect your credit in any way?
A cosigner cannot simply remove their name from the contract. The cosigner is obligated equally with the primary borrower until the loan is paid. A cosigner's credit history will be affected, hopefully in a positive way.
If a vehicle is in your name and the cosigner has possession can he get his own insurance?
Only if represented on the registration.
If you are a cosigner in someone's loan for a line of credit and he is at default what can the cosigner do to take his name back?
Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.
Can a cobuyer refinance a auto loan and remove the buyer from loan?
Buy cobuyer I wonder if you mean cosigner on a loan. If this is the case then the answer is no. As a cosigner you are simply agreeing to pay the loan if the person who took it out does not. It is in his or her name and you are responsible for it if they do not pay it.
Does a cosigner have the right to take possession of the car when the primary borrower has made all the payments and has not defaulted on the loan?
No, a cosigner has no legal rights to a vehicle unless his or her name appears on the vehicle title.
Can you remove A CO signer name after six months?
No, one can not remove a cosigner from any contract after 6 months. The cosigner will have to stay on the contract until the contract is paid.
Can the cosigner get her name off the loan or can she take the car if her name is not on the registration?
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.
What rights does a cosigner have to gain possession of the vehicle if his name is on the title in Pennsylvania?
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.
Can a co-owner take a car from the co-signer?
A cosigner has no legal rights to a vehicle unless his or her name is on the title. If the cosigner's name appears on the vehicle title then he or she is also a co-owner of said vehicle and any dispute in possession and ownership may need to be decided through legal procedures.
Can a cosigner take possession of a car if the primary signer is not paying the payments?
Yes. I believe the loaner will contact you with a past due amount, or send you a bill. If this hasn't happened yet, contact the loaner and tell them you want possesion if the car is not being paid for by the buyer. * No. A cosigner has no legal right to a vehicle unless his or her name appears on the title. The cosigner will have to make the payments to keep the vehicle from being reposssesed or have the vehicle refinanced in his or her name with the primary borrower being released from the current agreement, this can only be done if the lender agrees.
