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The legal basics are: If a vehicle title uses the word "or" to separate the names the vehicle can be sold or traded by either party. If the names on the title are separated by the work "and" both parties have to agree to any action taken in regards to said vehicle. The person who is listed as the loan borrower is irrelevant unless it becomes a case for litigation in regards to partitioning said property. Any vehicle which is still held by a lender's lien (it will be indicated on the title) cannot be sold, traded or partitioing of parts without the lender being agreeable or the loan being paid in full as agreed. Any person who reports a vehicle as stolen when they have knowledge that there has been no such crime committed is guilty of a criminal felony and will be subject to prosecution and incarceration.
What else can I help you with?
Is it possible to back out of an auto purchase if you have the car in your possession but the main borrower has not signed any papers?
Even if the main borrower has signed the papers, legally you have 3 days from the time you sign the papers to be able to take the vehicle back and say you have changed your mind. So just take it back and say I've changed my mind.
Should you be friends with the exgirlfriend when it hurts to see her?
Maybe not now, but there will come a time after you have truly gotten over her that friendship will be possible if you want it.
What can you do when a vehicle is in your possession and subject to repossession but the lender has refused to recover the vehicle for the last three years?
Lenders are not legally required to take possession of the vehicle nor will they if the vehicle has greatly depreciated. In such cases the lending institution will usually file suit against the borrower for the full amount of the loan plus all applicable fees and legal costs. The borrower has no recourse unless they are sued and then they should be certain to respond to the summons and to use their legal rights to protect personal and real property that is considered exempt from creditor attachment under the laws of the state where they reside. It might prove beneficial for the borrower to speak with an attorney about possible solutions to the problem.
If a referee can not decide who has possession of the soccer ball how is it decided?
During active play it is possible that no one has possession. In that case, the first player to get to the ball now has possession.
What did Bilbo have that made it possible to deal with bard?
He had possession of the Arkenstone.
Is it possible to add a co-borrower or co-signer when refinancing a mortgage loan?
Yes. It is possible to add a co-signer (or co-borrower) on a refinance.However, the co-signer should be fully informed that they will be equally responsible for paying the loan if the primary borrower fails to pay and they should also have an ownership interest in the property so they won't end up paying for property they do not own.
Is it possible for me to transfer my car loan to the cosigner?
Transferring a car loan to the cosigner is typically not possible. The loan agreement is usually tied to the original borrower, and the cosigner is responsible for payments only if the borrower defaults. It's best to contact your lender for specific options regarding your loan.
Does everyone in car get ticket for possession by minor?
it happened to me so its possible
Is it possible for a cosigner to become the primary borrower on a car loan?
Yes, it is possible for a cosigner to become the primary borrower on a car loan through a process called refinancing. This typically involves the cosigner applying for a new loan in their name only, which pays off the existing loan and transfers the responsibility solely to the cosigner.
Is it possible to get a loan if you're not working and are a student who wants to buy property or start a business?
Anything's possible. Is it likely? No. You will definitely need to get a co-borrower on the loan with established credit.
If your truck is repossessed can you still be sued?
When a vehicle is repossessed by the lender it is sold at a public auction for as near the fair market value as is possible. The amount the vehicle is sold for is deducted from the balance of the loan and the borrower is responsible for the repayment of that amount plus any interest and additional fees. If the borrower is unable to make a payment agreement with the lender, the lender does have the option of suing for the amount owed and legal costs. It isn't possible to give a definite answer on if the lender will or will not sue the borrower for the debt.
Is it possible to buy a cosigner for a car?
No, it is not possible to buy a cosigner for a car. A cosigner is someone who agrees to be responsible for the loan if the primary borrower fails to make payments. They cannot be purchased or hired.
