No, a co-buyer cannot legally take the car from the primary buyer without the primary buyer's consent or a court order.
You don't. If the cobuyer has possession of the vehicle and is no longer making payments, you as the buyer may take possession and either take up and make current the payments, or voluntarily surrender the vehicle. Failure to do so will result in repossession, and will adversely affect your credit.
The co-buyer should contact the LENDER and ask to have the buyer removed from the loan. Nothing can be done legally without the LENDERS approval.
Yes, the buyer can be a cosigner on a loan or lease, but it typically depends on the lender's policies and the specific situation. A cosigner is someone who agrees to take on the financial responsibility of the loan if the primary borrower defaults. Having the buyer as a cosigner can strengthen the application if they have a better credit score or income, but it's important for both parties to understand the implications of shared financial liability.
Yes, a co-buyer can take possession of the car if they are listed on the title and have a legal right to do so.
Don't know of any state that allows a co-buyer. There might be. For this purpose, let's use co-signer. What legal action does the co-signer have if the buyer doesn't make the car payments? In reality, the co-signer signed as a guarantee that the payment would be made and on time on the specified date. The buyer is the one buying. That's 2 different operations. The co-signer, at last known fact, cannot take the car because he is not buying it. He's paying THE LOAN since (and we're assuming here) the buyer is not paying. In my experience, if the buyer wants to be a horse patootie, he can drive that car with a smile on his face and not make payments because the co-signer IS OBLIGATED TO MAKE THE PAYMENTS. If the co-signer does not make the payments, then HIS CREDIT IS RUINED! Never co-sign, if at all possible.
Daughter and husband are getting divorce and she is the co-buyer can she take it out of state
You don't. If the cobuyer has possession of the vehicle and is no longer making payments, you as the buyer may take possession and either take up and make current the payments, or voluntarily surrender the vehicle. Failure to do so will result in repossession, and will adversely affect your credit.
The co-buyer should contact the LENDER and ask to have the buyer removed from the loan. Nothing can be done legally without the LENDERS approval.
keep it in a good place not in the car because if they find it they could take it from you "legally" by signing it
No, it is illegal for an auctioneer to accept bribes from potential buyers. Doing so would violate laws and regulations that are in place to ensure fair and transparent auction processes. Accepting bribes could result in legal consequences for the auctioneer.
Legally speaking, you're not required to. The buyer takes the car as is. If you were as honest as you could be about the car's condition when the buyer was making his decision, then probably not; it's just the chance you take. A lot will depend on the nature of the transaction and your relationship with the buyer.
i am the buyer made payments but the co buyer has the car and has not made any payments what are may rights Very generally speaking, cobuyers (cosigners) have the same rights to the vehicle as the primary buyer, however, you may or may not have the right to take possession of the vehicle without permission of the buyer. Some states have specific laws about taking possession of a vehicle under those circumstances.
Take the title, yourself and the buyer to your local DMV. They will take care of everything.
yes. The person who the vehicle is titled to is the owner of the vehicle.
When someone co-signs, they are basically just agreeing to making the payments when the signer can not. * Any legal rights that a cosigner or a co-buyer(borrower) have depend upon whether or not their name is on the title to the vehicle.
Yes, a co-buyer can take possession of the car if they are listed on the title and have a legal right to do so.
Don't know of any state that allows a co-buyer. There might be. For this purpose, let's use co-signer. What legal action does the co-signer have if the buyer doesn't make the car payments? In reality, the co-signer signed as a guarantee that the payment would be made and on time on the specified date. The buyer is the one buying. That's 2 different operations. The co-signer, at last known fact, cannot take the car because he is not buying it. He's paying THE LOAN since (and we're assuming here) the buyer is not paying. In my experience, if the buyer wants to be a horse patootie, he can drive that car with a smile on his face and not make payments because the co-signer IS OBLIGATED TO MAKE THE PAYMENTS. If the co-signer does not make the payments, then HIS CREDIT IS RUINED! Never co-sign, if at all possible.