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.
No, not if both of you are on the title.
Control in what sense? Sell them, transfer title? The cosigner guarantee's the loan on the vehicles and would need to agree to selling them and sign the title. You can use them for any purpose, do anything with them including burning them. You will still be responsible for the loan and if not you the cosigner will have to pay the loan off.
All of the owners of the car have to sign to transfer it or sell it, and that includes donating it.
The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.
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.
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.
If you go to the registration office with the primary and have them give consent to the cosigner
The title has nothing to do with the loan. The loan will need to be refinanced using a different cosigner or only the primary borrowers.
Since you are both on the loan you are both on the title. You can refinance without them on the loan but would need them to sign the title over or transfer at close.
yes.
Cosigner just means someone who guaranteed the note. What's on the title? If the cosigner is on the title, he/she is entitled to half of the proceeds of a sale or insurance liquidation because it's the TITLE that determines the ownership, not who paid for it.
In most states, yes, the lender is actually the 'owner' until the loan is paid off and can require that the cosigner be on the title.