0
Can the cosigner for a car get off the lease and do they have rights to sell the car?
Wiki User
∙ 18y ago
No one is released from contract unless the lender has some mitigating reason to allow it. This is usually death of a borrower. Other than that, the only legal way to "get off of a lease" is to pay the loan off. In most circumstances, but check your state law, the cosigner has the same rights and responsibilities as the primary signer. The lender is not going to referee your domestic disputes. Probably best to consult a contract lawyer. A co-signer has no legal rights to a vehicle unless his or her name is on the title. The cosigner is responsible for the entire amount of the loan if the primary borrower defaults; and cannot be removed from the lending agreement until the loan is paid in full or is refinanced without said cosigner being a participant.
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
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.
Does a cosigner have rights to the car even when its paid off?
No, the cosigner will not have rights to the car after its paid off because the purpose of a cosigner is to pay off the notice if you fail to do so. Being a cosigner does not give them to any rights to the car.
When can cosigner attempt to sell car?
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.
Can a cosigner take away your car even though payments are not delinquent?
No. Unless the cosigner is also a title holder they have no legal rights to the vehicle.
What are the rights of the cosigner to sell a car?
None, unless the cosigner is also on the title of the vehicle they have no legal rights to the property. When someone cosigns a loan for any reason they accept the responsibility of paying the debt if the primary borrower defaults. The only option a cosigner has in recovering money paid out in connection with the loan is to sue the primary borrower in the appropriate court, in the city or county where the borrower lives.
If a person needs a cosigner to lease a car will their credit improve if they make payments on time?
Yes, the owner as well as the co-signer will be affected when you lease a car, being it negative or positive it will have an impact on both credit reports.
Can a cosigner on a car loan sell the car without approval from the other?
No, both parties would have to be in agreement and sign off to sell or trade the vehicle.
Can i donate my car with a cosigner name on the title?
All of the owners of the car have to sign to transfer it or sell it, and that includes donating it.
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.
Does a cosigner have rights to a vehicle?
No, a cosigner only has the legal obligation to pay the debt if the primary borrower defaults on the lending agreement.The exception to this would be if the cosigner is a joint title holder of the vehicle.COSINGER!Does a consignor have rights to the vehicle if the people who is buying the car never missed a payment?
Is vehicle leasing an option for someone with poor credit?
There are many options to lease a vehicle if you have poor credit. You can always lease the car with a cosigner, if you can find one, and so you can lease the car even with poor credit. You can also get a long term rental from a car company such as Hertz. It will be more expensive, but is an option, if you don't want to buy a car.
What are your rights if your lease car was repo?
If you have stopped making the lease payments, you have forfeited the car and you have no rights. Basically, by not making the payments, the lender believes you no longer desire to have the car and they will take it back and sell it to somebody that really wants that car and is willing to make the lease payments. Usually, any monies you paid during the lease are also forfeited ... you walk away with nothing, basically. Always always read ALL the fine print before signing any document. You may also be responsible for all the costs associated with the repossession, any damages and depreciation.
