Legal Question in Real Estate Law in Maryland
Transferring car title as co-owner
I co-signed a car loan for my now ex-boyfriend a year and a half ago. Since then
he has missed payments and has had his insurance cancelled for non-payment.
He lives three hours away and has no phone. I want to hire a repo company to
take possession of the car so that I can sell it and pay off the loan. Can I legally
sell the car with just my signature on the title (I am listed as ''co-owner'')? Or do I
need him to sign also?
1 Answer from Attorneys
Re: Transferring car title as co-owner
You can't pass good title to the car unless you both sign the title over. Given you ex's default, it sounds like it will be only a matter of time until the lender repos it anyway, assuming they can find him. Unfortunately, this is going to be on your credit record, since you are equally responsible for the payment of the loan in the eyes of the law.
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