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How can a co-buyer take possession of a truck when the primary borrower is not making the payments?
Wiki User
∙ 18y ago
When someone co-signs, they are basically just agreeing to making the payments when the signer can not. * Any legal rights that a cosigner or a co-buyer(borrower) have depend upon whether or not their name is on the title to the vehicle.
Wiki User
∙ 18y ago
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Can a cosigner take the primary borrower to court to get possession of the car that the primary has made all the payments on and the car is insured and registered to the primary?
No.
Can the cosigner of a motorbike loan take possession of the bike if the primary borrower isn't making payments?
yes
Can the co-signer repossess a car deliquent in payments?
It wouldn't be a repossession, but if he has had to make the payments, he could sue the primary borrower and might get possession from the court.
Can you take possession of a car that you co-signed for if the primary is making the payments?
NO. Cosigning means the person is promising to be responsible for the debt if the primary borrower defaults.
If the primary borrower in Colorado is not defaulted on the payments can the co-signer take possession of the vehicle?
The only way that a co-signer can take possession of the vehicle is if they are listed on the title as a co-owner. Even if they are a co-owner, they cannot just take the vehicle. They would need to sue the primary borrower in court to gain possession.
Can a cosigner in California take possession of a vehicle if the primary borrower is not making the payments in Georgia?
Only if the cosigner is also named on the vehicle title.
Upon signing a contract where it says Primary Buyer and Co-Buyer where is a Co-Signer supposed to sign?
Cobuyer, cosigner, they are the same thing. Wherever you sign as co-signer you should be aware that if the primary borrower defaults on payments you will be held equally responsible for paying the loan.
Can you take possession of the car if the borrower stops making payments even though they have been paying for a year?
Only if your name is on the title, and only if the primary borrower defaults and the vehicle is subject to being repossessed by the lender.
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 a co-signer call for payment in full if the loan is not being paid?
The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.The co-signer has no inherent authority to "call for" the payment in full of the loan. If the primary borrower is missing payments it is likely they cannot afford to repay the loan. In fact, if payments are being missed by the primary borrower the co-signer's responsibility will kick in and the lender will go after the co-signer for full payment of the loan.
Can the primary borrower of an auto loan replace their name with someone else's for them to take over payments?
no
Can the cosigner be taken off the loan if the primary borrower has made over a year of payments on time?
The only way for a co-signer to be taken off the loan, would be for the primary borrower to refinance the account.
