Legal Question in Civil Litigation in Kentucky
loan/car ownership
If a parent cosigned for a car loan for her child and she wishes to take
the car away for the child and the child is over twenty-one is this legal?
Or if the title has both names can the child legally drive the car as long
as payments are not in arrears?
Asked on 12/03/04, 8:58 am
1 Answer from Attorneys
A Woodson Pulliam
Pulliam Law Office
Re: loan/car ownership
Cosigning for personal property does not convey any control or ownership right. It is merely a guarantee to repay the loan. If payment is in arrears, the creditor will seek payment from one, or both of the signatories on the Note.
Answered on 12/07/04, 12:03 pm
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