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What happens when the signer of a car loan passes away and there is a cosigner as well?
Wiki User
∙ 14y ago
The Cosigned assumes full responsibility of the loan.
Wiki User
∙ 14y ago
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Can a cosigner take the car away from the borrower without permission from the borrower By towing it or using the second key to take the vehicle?
A co-signer is not an owner of the car. As such, the co-signer cannot take the car away from the borrower without the borrower's permission.
Does a cosigner have rights to the car if the owner passes away?
No. Not unless they are also listed on the title. A co-signer simply agrees with the bank to pay the loan if the primary borrower fails to pay. Co-signing doesn't grant any ownership interest in the property. If the co-signer pays for the vehicle they may be able to make a claim against the estate or sue to gain ownership of it.
Can a cosigner on a car loan take the vehicle away from the person if they changed their mind about being a co-signer?
No. A co-signer has no legal rights to the property. They are responsible for the debt incurred until the terms of the lending agreement are fulfilled or refinanced without their participation.
What happens to the money in an account when the owner passes away?
It passes to the deceased's estate upon proof of death.
Can a primary co signer take the car from the secondary co signer?
can a primary co signer take the car away from a secondary co signer
Can the primary signer of a car take it away from co-signer if all the payments were made and up to date by co-signer?
NO
What happens when your mom passes away and her property is in a life estate?
The life estate goes to the remainderman.
Can a cosigner take away your car even though payments are not delinquent?
No. Unless the cosigner is also a title holder they have no legal rights to the vehicle.
What happens if a co signer on a car loan passes away?
The surviving borrower is solely responsible for paying the loan.The surviving borrower is solely responsible for paying the loan.The surviving borrower is solely responsible for paying the loan.The surviving borrower is solely responsible for paying the loan.
What happens to kates boyfriend in your sisters keeper?
The sad truth is he passes away, while Kate and him snuck away she asked him if he was scared of dying and the next thing you know he passes away. The doctors tell her mom and she has to break the news to Kate, and from there she goes downhill. Its a sad movie and book :(
Can a co-signer take the car away from the primary driver?
The automobile's title/registration determines the legal owner of the vehicle. Loan documents only concern the signer's legal responsibilities with the bank. If both names are on the title and you as primary are not paying on the loan then it is the responsibility of the co-signer to pay the loan. Since the the co-signer is still co-owner, and they are paying then the co-signer can take the car away. Remember this is affecting the co-signer's credit as well as your credit.
What happens when light goes from water to air?
light rays bend away from normal as it passes from denser water to rarer air
