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Is a promissory note legal if the cosigner on the loan was unaware and still liable for the loan?
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What are the legal rights of a cosigner on a mortgage?
legal rights of cosigner on mortgage
Is a cosigner liable for the balance of a repossessed vehicle if the loan company auctioned it without notifying them?
READ your contract you signed. Call a local attorney for state specific legal advice.
What makes a legal cosigner?
Capacity and intent of the cosigner to be bound is required.
Is a promissory note legal in Texas?
From what I researced, yes it is legal .
How do you issue a promissory note?
A promissory note is a fancy legal name for a legally phrased I.O.U.
Can a17 year old get a loan with a cosigner?
Yes, as long as the cosigner is a legal gardian or a parent.
Can an unsecured promissory note be used for a deposit on purchasing a home?
No. An unsigned promissory note has no legal value whatsoever.
What is presentment of promissory note?
A "Promissory Note" is a legal IOU. 'Presentment' of it, means that you (or someone) is cashing it in, and wants to be paid.
How long can a person go to jail for taking out a student loan that used someone as a cosigner that they were unaware of?
If you signed someone else's name on a legal document then the crime is forgery. If it is your first offence you may not go to prison if you are lucky.
If a co-signer is not on title to a vehicle and a bank officer picks it up and gives it to the cosigner what are the legal reprocussions are the lender and the cosigner subject to?
NOLO legal books are available at the library, GREAT do-it-yourself legal...
Is promissory note a business letter?
A promissory note would be more accurately described as a legal document, rather than a business letter.
If a cosigner is forced to make payments on the loan because the borrower has defaulted can the car be confiscated from the borrower by the cosigner?
No. The car is not your property, nor do you have legal authority to sieze property. It would be considered grand theft. As a co-signer, you agreed to be just as legally liable for the debt as the borrower. That's why it's a good idea to NEVER co-sign ANYTHING.
