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Whomever is named on the TITLE has equal rights to the possession of the car.

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โˆ™ 2015-07-15 19:48:07
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Q: If the cosigner has possession of vehicle and all payments are up to date can person named first take the vehicle at any time?
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If the cosigner is on the title can they take vehicle if person is not making the payments?

Yes..... I did


If the person you cosigned for refuses to pay on the car loan after a year and a half can the cosigner take over payments and get possession of the car?

Only if they are a joint title holder of the vehicle.


Do you have the right to take possession of a vehicle you cosigned when the person not making payments?

Yes.


Do you have a right to take a car away if you are the cosigner?

Well if the original person that you co-signed with defaults on the payments and you are stuck with the payments, technically it is your vehicle and you can take the person to court and take control of the vehicle.


How can the cosigner of a car immediately have possession of it after it was repossessed by the bank?

When you cosign for anyone you are taking 100% responsibility for the payments on that car. If the person that gets the car doesn't keep their payments up it will be repossessed by the bank with an option for the cosigner to take over payments or sell the car and pay back the loan. Marcy


What legal recourse is there for the cosigner when the person that was cosigned for has defaulted on the loan?

The usual legal recourse for the cosigner when the person named as the primary on a loan has defaulted, is to make the payments on the loan. Then, the cosigner can take the person who defaulted to court to try and recoup some of the money they are out. If the loan was for a car, some states allow the cosigner to take possession of the car and sell it to recoup losses also.


If a person cosigns on a vehicle loan and is listed as the primary buyer on the title and the person they cosigned for has refused to make any payments can the the cosigner regain ownership of the car?

If a person's name is listed on a title, that person owns the car. If a person merely cosigned the note, that person's name will not be on the title. If you own the car, you certainly can take physical possession of it.


Can a lien holder report the car stolen for being behind in payments?

Of course not. The car has not been stolen. But guess who is going to have to make the payments if the primary lender does not. You the cosigner, that's who. I would suggest you talk to the person you cosigned the loan for. If I were going to have to make the payments I would for sure try to gain possession of the vehicle. This is the very reason cosigning is a bad idea.


If you co-sign for an car loan and the car registration and insurance are in only your name and you make all of the payments and you have possession of the vehicle does the other person have any right to take the car?

You are confusing me. The primary borrower should have the registration, insurance, and possession of the vehicle, not the cosigner. I am currently going through a situation where I cosigned for a car for my sister. Due to her lack of making payments, I have hired an attorney to try to obtain possession of the vehicle. Both her and I are listed on the registration/title as 'or'. She has possession of the vehicle, the registration (which I obtained a copy of from the Motor Vehicle Office) and carries the insurance. My attorney tells me although I am on the title, registration, and loan, in oder to 'take' the car I have to go to court and have the judge issue a Writ of Possession. This being the case, depending on your state laws (I am in Florida), the other person would likely have to go to court to get the Writ of Possession to take the vehicle from you. I have learned the hard way (I am quite jaded because of this experience) the person who has the car in their possession has most of the rights - regardless of who is making the payments. Hope this helps. DON'T EVER CO-SIGN FOR A CAR FOR ANYBODY NO MATTER WHAT!!! PLEASE LEARN FROM MY MISTAKES!!!


Can the cosigner who has been making the lease payments have the car repossessed so he can use it?

Don, IF your name is on the title as co-owner, you would just be taking possession of your own car. If its NOT on the title, you cant take possession legally.Why not go to the person in possession and tell them to give up the car??


What rights does a cosigner have to gain possession of the vehicle if his name is on the title in Maryland?

The person named on the title is the owner and can take possession. If you have to pick up the car from another party, have a sheriff deputy on hand when doing so, just for your protection.


What are the rights of a cosigner?

A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.

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