Legal Question in Real Estate Law in California
Co Signer for Car how can I get out of it?
I recently co-signed for a car.The person no longer has a relationship with me. I want off the car. What actions can I take to get my name off the car?
1 Answer from Attorneys
Re: Co Signer for Car how can I get out of it?
None that I know of that would make you any happier with the situation.....
You could protect your credit by paying off the entire debt and obtaining a written release; or perhaps you could buy your release for less than the entire indebtedness. Or, you could wait and see if the primary debtor defaults and you are called upon to make good on the guarantee, then do so, then try to recollect in small claims or otherwise.
There is always the possibility of some kind of legal defect in the guarantee, but if it was a form provided by a full-time dealer, that's very unlikely.
Finally, "co-signed" probably means you are a guarantor on a loan, rather than a co-owner, but are you possibly on title also? In that case, you would have the right to require the sale of the car and division of the net proceeds of sale.