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You are the co signer but have made all payments can the primary take the car?
Yes. The primary and the cosigner are equal owners of the vehicle. If all things are equal, and the loan is current, and one of the contract parties takes possession of the vehicle over the other, it is a civil matter and must be decided by a judge.
Does the primary need the cosigner to trade in a car?
Yes, the cosigner and primary signer must be present to sell or trade the vehicle as they are equal owners. Also, both parties must sign the odomoter disclosure statement and the lien release (if applicable). The only exception to this is when the vehicle is titled Mrs. OR Mr. Some states like WV will allow an OR instead of an AND.
Who has the right of ownership of vehicle Owner or coowner?
The primary and cosigner on a car note are equal owners. Neither has the "right of ownership" over the other. This is a common misconception. Both may not benefit from the transaction, but both will be negatively affected if the note is not paid.
What is the Part of the equation that is separated by the equal sign?
It is an expression because an equation is two equal expressions separated by an equality sign.
If the title has the primary borrower's name first and then the cosigner's name can the cosigner just take the car and make the primary borrower still pay on it but not own it anymore?
What decides the ownership of real property such as a vehicle is the way the title is worded. If the names on the title of the vehicle are separated by the word "and" each party owns an equal share of the vehicle and both have to agree on any action taken. If the names are separated by the word "or" both parties have sole ownership rights and either one can take action without the permission of the other. Nevertheless, one party cannot have the use of the vehicle while the other one pays the financial obligation unless it pertains to a married couple or the involved parties have agreed on such an arrangement. Unfortunately situations such as cited quite often end up in litigation.
When your name is the second name on your truck title can the person whose name appears first on your truck title repossess the truck or have you arrested if you leave with the truck in NC?
If two owners are listed on a title in NC, they are considered to be equal owners. Therefore both owners have the same control over the vehicle.
Can a co owner take the car from the primary owner if car is paid for in full by the co-owner?
If the car is fully paid for by the co-owner and both parties are listed on the title, the co-owner may have rights to the vehicle, but this can depend on state laws and the specific agreements between the owners. Typically, both co-owners have equal rights to the vehicle, and one cannot simply take the car without the other's consent. It’s advisable to consult legal counsel to understand the rights and responsibilities in such situations.
Is owners equity equal to the business liabilities less the business assets?
No. Owners Equity is equal to Business Assets less Business Liabilities.
Does co mean equal?
Co can mean joint, together or the similar; however it doesn't always mean equal. For example: co-owners in a business are both owners. However, they do not necessarily have to have equal ownership.
What is a numerical expression separated with an equal sign called?
equation
What are your rights as primary borrower of vehicle loan but co borrower has possession and pays the payments?
AnswerThe loan is joint so both parties have equal rights to the vehicle.Not Necessarily SoAs a borrower, you only have the "right" to repay the loan. If you are also listed on the title as a co-owner, you have equal rights to use the vehicle. NOT ALL CUT AND DRY!The primary is the "PRIMARY OWNER" the co-signer is just a back up for the lender. If the Primary has allowed the co-signer to use the vehicle and it is in their possession well the primary is entrusting that person to operate it, and if there was verbal agreement with the co-signer to maintain payments, insurance and so on and if that person does not obtain like car insurance which is the law etc, you can write a demand letter asking for the vehicle back. Because if the co-signer does not keep up the insurance who ever the lender is will add their own and it will increase the car payment and only cover their property leaving the primary and the co-signer STILL liable for others in the event of a accident. Now if the Primary owner is not at all happy with the use of a vehicle by a co-signer in their name as well and there is Negligent Entrustment there are things you can do to protect yourself and you really need to talk with an attorney in your state. It really depends on your situation why the vehicle is in the co-signers possession in the first place.
Can one party sell the car if the other party has the title pick slip?
A "pink slip" is a bill of sale showing ownership of the vehicle. A valid title is issued by the state in which the vehicle is registered. A vehicle that has a lien existing on the title cannot be sold by anyone until said lien is satisfied in some manner. Titles can be issued in two ways: When the title names are separated by the word "or" both parties are considered to have legal and sole ownership of a vehicle and may take action w/o the involvement of the other. When the title names are separated by the word "and" the parties are considered equal owners and both must agree to whatever action is taken concerning the vehicle. Please be advised, even though legally the "or" titling allows a person to take solitary action it does not mean that the other party named on the title cannot seek restitution via a civil suit for any damages they may incur.
