Legal Question in Civil Litigation in Wisconsin

Vehicle Co-signer Taking Possession of Collateral

I would not be able to answer this question without seeing all of the loan documents as well as any side agreements which you had between yourself and the cosigner. Generally speaking, the cosigner would be able to take possession of the collateral after a default by the primary buyer and hold (or sell) the collateral in order to secure repayment. One thing which I often find in this scenario is also that the parties do not really know which one of them is the primary buyer and which one the cosigner. Often, the paperwork is done such that the person with the best credit is actually the primary buyer. The primary buyer's name would also generally be on the title, which provides them with the right to take possession. You really need to retain and consult with your own attorney in this situation; my comments online are not intended as legal advice for you.