Partial owner of an asset
No, not if both of you are on the title.
probably if they're a married couple
Most lenders prefer a cosigner to have a credit score of at least 620. However, cosigners with a credit score of 720 or above is always preferred.
How can they sue for non-payment if they are not part of the agreement? Why wouldn't the spouse sue?
I'm sure you won't like this answer, but only the lender can repossess the collateral. If the cosigner is also a co-owner and listed on the title, he could insist on taking his turn driving the car. But essentially, the only right a cosigner has is the "right" to make the payments if the primary borrower does not.
It depends on the lender that is refinancing--but usually a pay stub or 2 to show you are working or letter showing you are still in school if you are not going to pay just yet. My son did almost everything by internet and fax until the set of papers were mailed to him for his signature.
That depends on the type of property covered by the loan. A co-signer cannot transfer the obligation to pay the loan to the primary borrower. The co-signer has a contract with the lender that they will pay off the loan if the primary borrower fails to pay.If the property is a car the co-owner can sign over the certificate of title and the grantee can request a new certificate of title in their sole name.
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