Legal Question in Real Estate Law in Virginia
I co-signed a car for a friend in which we are both co-buyers i.e., both names are on tags & title. Was told by the dealership that I could take possession if he doesn't make payment. I have requested a set of keys fm friend as a safety measure incase he faulters on loan, but will not give me a set. Is it true that I can work w/bank to take possession of car for non-payment and am I wrong in asking for a set of keys until loan is paid in full? My friend is being nasty about it. Thanks in advance for your help.
1 Answer from Attorneys
If you're a co-owner of this vehicle and are listed as such on the title, you would not need to"work w/bank to take possession of car for non-paymentl"; you could take possession of it at any time you choose.
As for the keys, see if the dealer can make you a set of duplicates which as a co-owner of the vehicle you're entitled to have.
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