Legal Question in Credit and Debt Law in Virginia
bought a car with a co-signer now i want to take co-signer's name off
i purchased a car with my boyfriend as a co-signer about a week ago because i dont have a driver's license yet just a learner's permit. we haven't registered the car yet, we're still using the temporary plates from the dealer and now we have an issue on who owns the car. i want to know if there is a way i can take his name off or my name off. i just dont want to have both our names on the title. what can i do?
2 Answers from Attorneys
Re: bought a car with a co-signer now i want to take co-signer's name off
Not much, except to get him to agree to allow you to buy him out of his share(in return he signs the back of the title over to you) or you both agree to sell the vehicle to someone else and split the sale proceeds.
Your boyfriend is every bit as much an owner of this vehicle as you are and therefore he has all the same rights with respect to this vehicle that you have. You cannot unilaterally force him
to relinquish his share of ownership in this vehicle.
Re: bought a car with a co-signer now i want to take co-signer's name off
It depends on whether by "co-signer" he was
listed as co-purchaser, or simply a guarantor.
What does the paperwork say about who is
the owner? Are there two owners, or is there
one owner with a co-signer (guarantor) ONLY on
the loan?
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
