A co-signer does not have rights to the property without having used due process of law to be granted said rights. The distribution of property when it pertains to the dissolution of a marriage is generally at the descretion of the presiding judge when those involved cannot reach an equitable agreement.
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.
Daughter and husband are getting divorce and she is the co-buyer can she take it out of state
If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?
you lost your husband and a car too! They don't have to give you any notice. The divorce settlement should have included you being taken off the title with no financial responsibility whatsoever for the car.
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
Possible fraud charges.
No, the cosigner signs on to the loan. Usually, the primary signer owns the car and drives it. The cosigner is there in case the loan goes into default and needs to be paid for. After they sign on the car does not belong to them, but the person who took out the loan.
The cosigner issue here is misplaced. The liability of a cosigner comes into play if the primary owner of the car cannot make payments. In the case presented, the primary borrower is doing fine. There is nothing a cosigner can do to take a car away.
A cosigner can attempt to sell the car at anytime. However, in order for them to sell it, they have to have the other signer's signature.
I'am a cosigner on the car that I'am driving. I have the title but it is in my ex-husband's name and mine. Will the DMV in Mississippi let me register the car if he is not present?
Not unless the the cosigner is on the vehicle title. If not on the title the only entitlement the cosigner has is to pay the bill.
If you need a cosigner for the loan because of bad credit, it means you can't afford the car.
if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner
Some who has character My Friend it is very difficult to get car loan with no credit and no cosigner although you have to contact some good car lenders in your area they can guide you better.
EX can assume the loan with the LENDERS permission ONLY. Son can "give" her the car in divorce but you and he are STILL RESPONSIBLE for the payment of the loan. If she wrecks the car while it is your and sons name, you and he will get sued also. Have the lender repo the car OR YOU assume the loan in your name only and get possession. TALK to the lender about this for better advice. ---- Make sure that it is mentioned in the divorce papers, and who makes the payments if it isn't paid off yet. ----
Yes. If you signed the loan, you are still legally responsible for it.
No. You are only cosigner on the one vehicle you signed for. All bets are off once the car is traded.
If you owe money on a car loan or are a cosigner for a car loan, yes.
You cant without the cosigners approval.