Call the DMV in your state and ask.
A cosigner cannot simply remove their name from the contract. The cosigner is obligated equally with the primary borrower until the loan is paid. A cosigner's credit history will be affected, hopefully in a positive way.
Any title holder must relinquish ownership by signing the title release
They would need to have the vehicle refinanced in their name only or obtain another cosigner for the refinancing.
No. The cosigner would have to apply for a loan in their name using their credit, income data.
The only way to take a cosigner off of a loan is to refinance it.
Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.
A cosigner cannot simply remove their name from the contract. The cosigner is obligated equally with the primary borrower until the loan is paid. A cosigner's credit history will be affected, hopefully in a positive way.
Yes.
Buy cobuyer I wonder if you mean cosigner on a loan. If this is the case then the answer is no. As a cosigner you are simply agreeing to pay the loan if the person who took it out does not. It is in his or her name and you are responsible for it if they do not pay it.
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.
Generally, the co-signerdoes not have any authority or means to remove their name from a loan. That would involve altering the loan documents and the lender's records. The loan is owned by the lender.
Any title holder must relinquish ownership by signing the title release
They would need to have the vehicle refinanced in their name only or obtain another cosigner for the refinancing.
IF YOU LEGALLY REMOVED THE COSIGNER FROM YOUR CAR LOAN,TITLE AND ALL. IT NOW BECOMES A CIVIL MATTER,WITH EVIDENCE ON HAND A LOCAL SHERIIFF'S MIGHT BE HELPFUL SINCE THEY HANDLE CIVIL MATTERS. I DON'T FORSEE ANY PROBLEMS IN ACQUIRING YOUR VEHICLE.
No.
The lender can require just about anything, but it is more likely that they will want every name on the title to be on the loan, not the other way around. If anyone should insist the cosigner's name be on the title, it would be the cosigner himself. That will give him a right to take possession of the vehicle if he is stuck with the payments.
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.