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Do you have a right to take a car away if you are the cosigner?
Wiki User
∙ 12y ago
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.
Wiki User
∙ 12y ago
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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.
Can a cosigner take the vehicle even if no payments are late?
NO! He is only guaranteeing the loan. He has no legal right to take the car.
Can a cosigner take the car away from the borrower without permission from the borrower By towing it or using the second key to take the vehicle?
A co-signer is not an owner of the car. As such, the co-signer cannot take the car away from the borrower without the borrower's permission.
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.
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 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.
Can you refinance your car without a cosigner if your current loan has a cosigner?
if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner
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.
Can they take money from my check for a car i don't have?
If you owe money on a car loan or are a cosigner for a car loan, yes.
Your name is the first name after the leasing company on the title your cosigner is trying to take your car you've made all your payments on time can they force you to give up your car?
I had this very same instance come up and the police were called. They told me that as long as the payments were being made and you have proof of you making the payments on time, the cosigner has to leg to stand on when trying to take the car. So NO your cosigner can not take the car.
What legal recourse is there for the cosigner when the person that was cosigned for has defaulted on the loan?
The usual legal recourse for the cosigner when the person named as the primary on a loan has defaulted, is to make the payments on the loan. Then, the cosigner can take the person who defaulted to court to try and recoup some of the money they are out. If the loan was for a car, some states allow the cosigner to take possession of the car and sell it to recoup losses also.
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.
