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How does the primary owner of a car pass the car to the co-signer?
You need to sign the Certificate of Title over to the co signer so that the vehicle can be legally registered in the name of the co-signer.
How does the primary owner of a car pass the car to the co signer?
You need to sign the Certificate of Title over to the co signer so that the vehicle can be legally registered in the name of the co-signer.
If you and your co-signer are on the title do both people have to sign title over when selling that car?
Absolutely
If a car loan has been refinanced does the co-signer have to sign to get their name off the title?
In the state of California, Yes.
Does the cosigner on your vehicle need to sign the title for you to sell your vehicle?
The co-signer will usually only have to sign if they are listed on the title as a co-owner.
Can a co-signer repossess a vehicle if a sibling is not making payments?
The co-signer is typically a person who signs for the car loan; the co-signer may or may not be listed as a co-owner on the title. If the co-signer is also a co-owner, the co-owner who is paying the loan can legally take the car. However, if the co-signer is not a co-owner, taking the car would be grand theft auto. Incidentally, if the co-signer is not also a co-owner and the loan falls into default, both the signer and the co-signer will be identified in credit reports as defaulting on a car loan, even though the co-signer did not have or use the car.
If someone has co-signed on a car will their name appear on the title?
No the co-signer's name should not appear on the title.
How can co-signer transfer title to cosignee?
That depends on the type of property covered by the loan. A co-signer cannot transfer the obligation to pay the loan to the primary borrower. The co-signer has a contract with the lender that they will pay off the loan if the primary borrower fails to pay.If the property is a car the co-owner can sign over the certificate of title and the grantee can request a new certificate of title in their sole name.
What if both names are on the title. can co signer take control of the car?
if you are on a car title and co signed for that vehicle, and it reads " you or them " can you register the vehicle
If the lender doesn't want the car how would the co-signer take over payments?
The co-signer would make the payments as usual and at the end of the financing, the owner would sign the title over to the co-signer. That is probably not good because the owner would still be financially responsible for the vehicle. The co-signer should refinance it in their name.
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.
Can you have a co signer with good credit co sign for a car loan if you have bad credit?
yes
