Ask questions via twitter! Message any question to @answers on twitter. We'll publish the question and send you a reply each time there's a new answer.
Next Question

Answered Question

missanne missanne
 
January 07, 2009 12:01 AM

if you co-sign on a car and the person who is responible for the bill take the car back and get another
you

they paper work get transferred to another car without the cosigner being present is that legal
Interesting Question?  Yes (0)   No (0)   
RSS
 
 

Best Answer  Chosen by Asker

pazaq pazaq
 
 January 07, 2009 08:16 AM
Well you can co-sign a loan and NOT have your name on the title. If your name is not on the title than it's most likely legal as they are the owner of the car. If your name is on the title regardless of whether or not your on the loan I believe it requires both of your signatures to sell it so then it would be illegal.

I'm not attorney, I don't pretend to be one. I just know that if your name isn't on the deed, title other legal document it isn't yours. :)
Source(s):
Past life experience.



Helpful Answer?  (0)   (0)    Tip pazaq for this answer
Permalink | Report
   Reply  
 
 

Other Answers (1)

Sort By
ozark ozark
 
January 10, 2009 12:34 AM
I guess it depends on where you are at. Around here if the loan is still open no matter what is used for collateral you are still responsible if the loan isn't paid. When you co sign a loan you are giving your word that you will make the payments if the person you cosigned for doesn't.

When someone asks you to cosign a loan you have to ask yourself if you are willing to make the payments if the other person can't or won't. If the answer is no then you know what to tell them when they ask.

Some other questions I always answer no to:
Will you make my bail?
Do you want to take advantage of this once in a lifetime free offer?
Do you want to take a free tour of our resort?
Can I ride your motorcycle?

:) Ozark
Source(s):
http://www.dealertricks.com


Helpful Answer?  (0)   (0)    Tip ozark for this answer
Permalink | Report
   Reply  
 
 

Answer this Question

How tips and payments work

This question has already been resolved. You may add an answer to it but you will not be eligible to win best answer or any associated tips.

Related Questions

View All Cars & Transportation Questions

Ask a Question


140 characters left
Top of Page
Buy Mahalo Dollars with Credit Card or PayPal

Top Members

This Week All Time
  • buddawiggi
    buddawiggi
    2nd Degree Black Belt
    27933 Points
    M$806.66 Earned
  • opher
    opher
    Purple Belt
    4757 Points
    M$203.72 Earned
  • annelisle
    annelisle
    Purple Belt
    3308 Points
    M$99.72 Earned
   See All
 

Most Popular Tags

mahalo(1638)
twitter(957)
iphone(467)
music(464)
google(361)
food(326)
internet(309)
online(298)
beer(280)
money(267)
movies(265)
facebook(256)
apple(254)
aotd(235)
answers(231)
health(220)
video(209)
free(206)
dog(205)
windows(198)
   See All
 

Categories

Welcome New Members


 
 
Mahalo Dollars are the currency of Mahalo Answers.

Each Mahalo Dollar costs $1.

Once you earn more than 40 Mahalo Dollars, you can request to be paid via PayPal. Each Mahalo Dollar is currently worth $0.75 when paid out via PayPal. Learn More

 
 

Please log in to use this function.

Answers Home | Ask a Question | Earn Points | How Tips Work | Widget