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Answered 2006-09-01 17:31:10

Yes. * No. Unless a cosigner is also named on the title to a vehicle or the deed to real property they have no legal rights or claim to said property.

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Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?

A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.


When husband inherits property should his wife be added to title or does she automatically become coowner?

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Does a cosigner own the property if he pays off the original loan?

The cosigner of the loan owns 1/2 of the property if they are on the title.


Who was coowner of the Pequod?

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What could happen to a cosigner if the income taxes were not done on a property?

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Does the cosigner on a mortgage need to be on the purchase and sale so the seller is aware of a cosigner?

That is an issue between the mortgage company, the buyer and the cosigner. The seller's only worry is selling the property and getting paid.


How can you be a cosigner if the title is in the name of the person you cosigned for?

Many people cosign a loan for property they don't own. Many are uninformed of the consequences of cosigning. They don't realize they are agreeing to be completely responsible for a loan for property that belongs to someone else. If the primary borrower defaults on the loan and the cosigner must make the payments, the cosigner has no automatic right to the property.


What is the difference on a car loan between a coowner and a cosigner?

Fairly simply, a co-owner owns the car, and possibly the way your phrasing it, the primary responsibility for the loan. Hence, the (co)owner will own the car when the loan is paid off. A cosigner is essentially only a guarantor of the loan receivor. He is also responsible for the payment of the loan to the bank. He has no responsibility, and possibly no rights, in the property it is attached to. I would note that it is possible (and more correct but in a sophesticated lender type of way) that the term coowner would mean that the loan is "cowned" by two (or more)lenders. As in Bank 1 and Bank 2 both own 1 loan on a property, having each given funds and each receiving the benefits (payments from the one receiving the loan) of the loan. This rarely occurs on simple finance transactions so I supect this is not what you mean.


Who has the right of ownership of vehicle Owner or coowner?

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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?

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If you are coowner of a house can you file bankrupt?

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What is a cosigner?

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Is a lien on a property considered real or personal property?

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What are your rights as a mortgage cosigner?

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What is the insurance liability for the cosigner of an auto loan?

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Does the bank still collect from a deceased co signers estate if the property was sold?

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Who was coowner and captain of the Pequod in Moby Dick?

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How do you remove a cosigner from property they bought together?

The loan must be paid off or refinanced and the co-owner must transfer their interest in the property to the person who will be keeping the property.


Can the cosigner sell the house if his name is not on the deed and the primary borrower has missed 3 payments?

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Does a cosigner on a mortgage mean that person is an owner of the property?

Yes it does, Only after you refinance the property may you take the cosigners name of the mortgage loan.


Can you get domicile if you own property?

If you own and occupy property it is considered your domicile.If you own and occupy property it is considered your domicile.If you own and occupy property it is considered your domicile.If you own and occupy property it is considered your domicile.


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Is a co-signer a co-owner?

No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be added to the title. Otherwise they have promised to pay for property they do not own if the primary borrower fails to pay.


In New Jersey can a cosigner be removed from the deed without signing the quitclaim deed form?

The obligation of being a cosigner and the inclusion of the person's name on a deed are two different issues. Being removed from a deed does not relieve the cosigner of the financial obligation of the loan. In addition, a quit claim to property is usually necessary, the action needed depends upon the laws of the state where the property is located.