Legal Question in Real Estate Law in Maryland

December 2007 I co-signed for a car for my then 32 y/o daughter. Last week i received a call form the lenders that I was in arrears 30 something days and if overdue mayments for December 2009 and January 2010 were not paid by January 23, 2010 the car would be repossessed. Though I am the cosigner - my daughter lives in a different city, pays the car note and drives the car. I know as a cosigner i am also responsible should she default on her payments. My question is if I pay the arrears can I SELL THE CAR WITHOUT MY DAUGHTER'S AGREEMENT? I'd rather pay the money that she's in arrears and sell the car and get some money for it than to lose it to being repossed AND THEN HAVE TO CONINUE TO PAY FOR A NON EXSISTANT CAR. PLEASE HELP! THANK YOU!


Asked on 1/18/10, 6:02 am

1 Answer from Attorneys
Lesly Longa Longa Law P.A.

You said your daughter is paying for it, so did you talk to her about her ability to continue making payments? You could loan your daughter the two months to save the car from repossession, if she can assure you that she will be able to continue to make payments in the future. Whoever has title to the vehicle can sell it. If she cannot afford to make the payments, then I don't see why she wouldn't agree to sell it to someone, rather than have it be repossessed. There's not much anyone else can do to help you with this. Good luck to you.

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Answered on 1/23/10, 8:01 am


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