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If the loan is paid off, the lender will give you a lien release. With that release in hand visit your local DMV to have the cosigner removed.
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∙ 16y ago
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Can a cosigner have a primary title holder taken off the title?
If you go to the registration office with the primary and have them give consent to the cosigner
Does a cosigner own the property if he pays off the original loan?
The cosigner of the loan owns 1/2 of the property if they are on the title.
After the vehicle title has been issued can the bank request a change of title and have the cosigner added.?
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.
How do you get a cosigner off of a car title if the car is paid off?
You cant without the cosigners approval.
Does a cosigner have any rights to the vehicle if the payments are current and the title does not list the cosigner's name?
NO, the ONLY rights a co-signor has is to pay off the loan if the debtor defaults. Unless, they are listed on the title. Two different ballgames.
Who has control of company vehicles with a cosigner?
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.
How can one remove a cosigner from an equity loan if the cosigner is not on the first mortgage title?
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.
Can a cosigner drive a car if they are on the title?
yes.
What rights does a cosigner have to gain possession of the vehicle if he paid off the loan without your knowledge and the title is in your name only?
If a cosigner's name is not on the title they have no legal claim to the vehicle. They can file a lawsuit against the primary borrower to recover money that they contributed towards the paying of the loan.
Can a cosigner request half of the insurance check if his name is on the title but he didn't have to make any payments or buy insurance?
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.
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.
Can a cosigner sue the primary for the full amount of loan when the cosigner pays it off?
A cosigner can only sue if the primary borrower signed an agreement for the cosigner to pay the debt and then be reimbursed. The consignor can not sue if they, at their own liberty, decided to just pay the debt.
