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A "Cosigner" is a "Co-owner." Cobuyers and buyers are equally responsible for the note they signed.
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∙ 14y ago
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Will the credit of the co-owner but not cosigner of your car be affected if you file bankruptcy?
No, because the co-signor is not file a bankruptcy with you and the creditor will go after the co-signor instead of you.
Is the cosigner on a property considered to be a co-owner?
Yes. * No. Unless a cosigner is also named on the title to a vehicle or the deed to real property they have no legal rights or claim to said property.
Is there a difference between co-borrower and co-signer?
Investopedia Says:A co-borrower is different that a cosigner in that a cosigner takes responsibility for the debt should the borrower default, but does not have ownership in the property
How do you remove a cosigner from property they bought together?
The loan must be paid off or refinanced and the co-owner must transfer their interest in the property to the person who will be keeping the property.
Can a cosigner of a mortgage who is not on the deed legally become the primary owner without notifying the primary owner?
The only way to become the owner of real property is by deed or by inheritance. A person cannot make themselves the owner. They must acquire ownership via a deed from the legal owner. If you co-signed a mortgage for land you do not own then you are simply a volunteer who agreed to pay the mortgage on land you do not own. That doesn't give you any ownership interest in the property. If you are a co-owner of the property who also co-signed a mortgage, you cannot make yourself the "primary" owner of the property. You would need a deed from the other co-owner.
Who owns the house the owner or co signer?
Check your title paperwork. If the cosigner is listed on the title then you are co owners. If the cosigner is not listed on the title then you are the only owner. More times than not a cosigner is also listed on the title.
Can a co-owner take a car from the co-signer?
A cosigner has no legal rights to a vehicle unless his or her name is on the title. If the cosigner's name appears on the vehicle title then he or she is also a co-owner of said vehicle and any dispute in possession and ownership may need to be decided through legal procedures.
Will the credit of the co-owner but not cosigner of your car be affected if you file bankruptcy?
No, because the co-signor is not file a bankruptcy with you and the creditor will go after the co-signor instead of you.
Is there a way for the cosigner to be removed as cosigner if primary owner defaults?
No. The purpose of requiring a co-signer is that in the case of a default by the primary borrower, the cosigner has agreed to be fully responsible for the loan. Therefore, if the borrower defaults, that's what you're there for if you're the cosigner.
Does the cosigner on your vehicle need to sign the title for you to sell your vehicle?
The co-signer will usually only have to sign if they are listed on the title as a co-owner.
Can a cosigner take the car away from the borrower if he is in default and the cosigner has a key and is paying the payments?
Bill, ONLY if the co-signor is listed ON THE TITLE as CO-OWNER. Co-signors only responsibliity is to make the notes if the signor doesnt. Signor is just USING co-signors creditworthiness.
Can you return a car to the dealer if they lied to you about being a cosigner and you are the co-owner?
No. You should have paid more attention to what you were signing.
If you are financing a vehicle can you remove the co-owner from the vehicle?
Only if you refinance the vehicle without the cosigner on the new loan.
Is the cosigner on a property considered to be a co-owner?
Yes. * No. Unless a cosigner is also named on the title to a vehicle or the deed to real property they have no legal rights or claim to said property.
Is a co-signer a co-owner?
No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.
What happens if one co-buyer of a vehicle lets the car get repossessed and moves abroad without paying the deficiency?
The other co-owner or cosigner will be responsible for the debt.
Can you as cosigner repossess your child's car when payments aren't made?
ONLY if your name is on the TITLE as co-owner or leinholder can you "repo" the car.
