By being a cosigning to a loan for the car. If one of you fails to pay the debt the other will still be obligated to make payments. Of course the actual owner will be the person taking out the loan but that is as close as you can get.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
Yes
The co-owner of the Pequod was Captain Peleg.
No. Namely, because the car wasn't stolen - it was taken back by the rightful owner (the financier), via a repossession agent. It's not the financier's fault - nor the repo agent's - that you neglected to make your payments.
added
I don't think so not without their approval.
The primary and cosigner on a car note are equal owners. Neither has the "right of ownership" over the other. This is a common misconception. Both may not benefit from the transaction, but both will be negatively affected if the note is not paid.
Yes. Anyone can file suit against anyone for any reason. Whether it gets dismissed right off the bat or not is dependent.
Shutterfly, 1999-, chairman; DNA Sciences, 2000-, director; Neoteris, 2001-, chairman; Hyperion Development Group, 2003-, coowner.
Fairly simply, a co-owner owns the car, and possibly the way your phrasing it, the primary responsibility for the loan. Hence, the (co)owner will own the car when the loan is paid off. A cosigner is essentially only a guarantor of the loan receivor. He is also responsible for the payment of the loan to the bank. He has no responsibility, and possibly no rights, in the property it is attached to. I would note that it is possible (and more correct but in a sophesticated lender type of way) that the term coowner would mean that the loan is "cowned" by two (or more)lenders. As in Bank 1 and Bank 2 both own 1 loan on a property, having each given funds and each receiving the benefits (payments from the one receiving the loan) of the loan. This rarely occurs on simple finance transactions so I supect this is not what you mean.
Yes, Johnny has had numerous jobs before becoming a serious and brilliant actor. Johnny has been a pen salesman, construction worker, he toured with his bands, he owned a bar or was a coowner, he was also a gas station attendent
Yes! You will have go and add your name to the new paper work and title. * The loan will have to be refinanced if the couple do not reside in a community property state. Adding to the loan will not make the spouse a coowner unless they live in a community property state but it will make them a co-borrower and equally obligated for the debt in any state. A person does not need to be on the title to be on the loan and vice-versa. Although it is prudent to be placed on the title as that is what determines ownership, not the financial agreement.