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Can the cosigner have the title of the car put in his name jointly if both parties agree?
The loan applicant must be on the title. The co-signer can certainly insist on being on the title to the vehicle. That would make it easier to take possession of the car if the primary borrower defaults.
However, it also makes the co-signer vulnerable as a co-owner of a vehicle being owned and operated by a person with a poor credit history. There may be liability issues in case of an accident. There may be costs if the primary allows the insurance to lapse, or they accumulate unpaid traffic violations and the vehicle is impounded.
A co-signer must make certain they are fully informed before signing their name as the responsible party. The reasons for not co-signing are abundant.
What else can I help you with?
Who has control of company vehicles with a cosigner?
Control in what sense? Sell them, transfer title? The cosigner guarantee's the loan on the vehicles and would need to agree to selling them and sign the title. You can use them for any purpose, do anything with them including burning them. You will still be responsible for the loan and if not you the cosigner will have to pay the loan off.
Can a cosigner have a primary title holder taken off the title?
If you go to the registration office with the primary and have them give consent to the cosigner
How can one remove a cosigner from an equity loan if the cosigner is not on the first mortgage title?
The title has nothing to do with the loan. The loan will need to be refinanced using a different cosigner or only the primary borrowers.
Can the cosigner register the car?
Yes, the cosigner can register the car if they are listed on the title and have the necessary documentation.
Can a cosigner drive a car if they are on the title?
yes.
Can you sell a car with two owners on the title if only one signs?
Both parties must agree to the sale and sign the title if the title says "and". If it says "or" you can sell it with just one owner's signature on the title.
Can a cosigner request half of the insurance check if his name is on the title but he didn't have to make any payments or buy insurance?
Cosigner just means someone who guaranteed the note. What's on the title? If the cosigner is on the title, he/she is entitled to half of the proceeds of a sale or insurance liquidation because it's the TITLE that determines the ownership, not who paid for it.
If two people are on the title of an automobile how can one of them be removed and BOTH parties agree?
If the names are joined with "OR" or "AND/OR", either can go to the DMV and have the title changed. If there is just an "AND", they will both have to sign.
After the vehicle title has been issued can the bank request a change of title and have the cosigner added.?
In most states, yes, the lender is actually the 'owner' until the loan is paid off and can require that the cosigner be on the title.
How can I remove a cosigner from a car title in California?
To remove a cosigner from a car title in California, you typically need to refinance the car loan in your name only. This process involves applying for a new loan without the cosigner's involvement and using it to pay off the existing loan. Once the new loan is approved and the old loan is paid off, the cosigner can be removed from the title.
Why is my cosigner listed on my title?
Your cosigner is listed on your title because they are legally responsible for the loan if you are unable to make payments. This provides the lender with added security and ensures that the loan will be repaid.
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.
