No. A co-signer is a person who guarantees the loan and a co-buyer is a person who has equal ownership and liability. An example is when a young married couple wants to buy a car but does not have good or sufficient credit or enough collateral for the loan. They might get one of their parents to guarantee payment of the loan by becoming a co-signer. If the couple defaults on the loan, the co-signer becomes liable. In this same case, the couple as husband and wife, sign the loan (co-borrowers) and the purchase document for the car as co-buyers, sharing equally ownership and primary liability.
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.
There is a common misconception that cosigners are not responsible for payment. However, the purpose of a cosigner is to guarantee payment of the loan. The cosigner, comaker, cobuyer, coguarantor or a loan is equally responsible for payment of the debt. So, yes.
Daughter and husband are getting divorce and she is the co-buyer can she take it out of state
Cobuyer, cosigner, they are the same thing. Wherever you sign as co-signer you should be aware that if the primary borrower defaults on payments you will be held equally responsible for paying the loan.
An auto cosigner, in the state of Indiana, has to meet all of the requirements of the contract. In most cases the cosigner has the same obligations as the primary signer.
You can as long as the title says:(example) John Doe or Jane Doe, if it says John Doe and Jane Doe then the cobuyer has to be a part of the sale.
The legal responsibilities of a cosigner on a lease agreement are the same as the tenant without the benefit of tenancy.
Yes, you can replace a cosigner for an apartment with another cosigner. However, you need to get the consent of the landlord.
A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.
You will be responsible for the loan payments
No, a cosigner does not have any legal rights to the vehicle, but does have the legal obligation to repay the debt if the primary borrower defaults on the contract. An exception could be if the cosigner is also named on the title to the vehicle, and if so, how the title is worded.