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What rights does a cosigner have if he was never told the loan was delinquent until seven months after the repossession?

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Wiki User
2004-03-19 21:53:45
2004-03-19 21:53:45

You HAD the right to keep an eye on collateral that you were standing good for and to make sure it was being paid for in a timely manner. Now you have the right to PAY for that collateral after it sells at auction.

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No. Unless the cosigner is also a title holder they have no legal rights to the vehicle.

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legal rights of cosigner on mortgage

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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.

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No, a cosigner only has the legal obligation to pay the debt if the primary borrower defaults on the lending agreement.The exception to this would be if the cosigner is a joint title holder of the vehicle.COSINGER!Does a consignor have rights to the vehicle if the people who is buying the car never missed a payment?

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No, a cosigner has no legal rights to the property unless their name is on the title or deed. A cosigner is accepting the responsibility of the debt if the primary borrower defaults; a co-buyer/borrower is a different matter entirely.

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A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.

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If you are not an owner of the property, as a co-signer you are fully responsible for paying the mortgage. You have no other rights in the property.

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None. A cosigner is entering into a legally binding contract to repay the debt if the primary borrower defaults on the lending agreement. The cosigner does not have any other obligation nor ownership rights to the property.

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A cosigner has a right to be released from the loan if the borrower has made on-time payments for 48 months. The borrower will need to sign a release form, however, the lender will have to agree to terms.

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No, a cosigner has no legal rights to a vehicle unless his or her name appears on the vehicle title.

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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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Unlike denied access rights, under federal law, there is no statute of limitations. However, the claim must be kept active by renewing it every 24 months.

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It depends on what the title says. The title can say "The owner of the vehicle is Name 1 or Name 2." If the title says this then the cosigner has limited rights to get the car. Whoever has the vehicle can sell the car without the cosigners signature. Now if the cosigner has the car, the cosigner can sell the car without the main owners signature. If the title states Name 1 and Name 2, then you have same rights as the main owner of the car. This means if Name 1 trys to sell it, they can't sell it without your signature.

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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.

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None, unless the cosigner is also on the title of the vehicle they have no legal rights to the property. When someone cosigns a loan for any reason they accept the responsibility of paying the debt if the primary borrower defaults. The only option a cosigner has in recovering money paid out in connection with the loan is to sue the primary borrower in the appropriate court, in the city or county where the borrower lives.

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A cosigner can only sue if the primary borrower signed an agreement for the cosigner to pay the debt and then be reimbursed. The consignor can not sue if they, at their own liberty, decided to just pay the debt.

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Equal rights of the signer. You may need to obtain an order from a court to do so.

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It depends on local/state laws and what the original contract stated.

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Unless your name is on the vehicle or you reside in the apartment in which you co-signed, you have no rights in the state of California. If your name is on the car or home, then you can take possession and pay the note.

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No, a cosigner generally has no legal rights to the property that they are cosigning for.

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The car company generally has to give you notice before going through with a repossession. Also, they should give you the opportunity to pay the outstanding bill before resorting to a repossession.

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Please elaborate on your question, are you asking from the standpoint of the lender or the borrower? Both, but I am the borrower.

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ONLY if you are listed on the TITLE as co-owner. Othwise you have NO rights to possession, ONLY payment of the loan.


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