If I am a co-signer on a car loan and I am on the title as co-owner, can I take the car into my possession without it being considered theft?

Get Legal Help Today

 Secured with SHA-256 Encryption

If I am a co-signer on a car loan and I am on the title as co-owner, can I take the car into my possession without it being considered theft?

I co-signed a loan on a car. The person is now out of work and has missed payments to the bank. I am on the registration/title as co-owner of the vehicle. My name appears first on the legal owners line.

Asked on August 12, 2011 Washington

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Technically since you are the vehicle's registered owner, you are entitled to its possession especially since you are are a co-signer on its loan and the person who has possession of the vehicle is unemployed and has missed making the monthly payments for the vehicle to the lending institution who made the loan on the vehicle without your taking of it being considered theft.

I recommend that you and the other registered owner sign a dated written agreement setting forth the fact that you as the other registered owner and co-obligor on the car's loan will be taking posession of the vehicle and will be making its monthly payments to keep its loan current.

By doing this, if matter's between you and the other co-owner sour, you have evidence that you are entitled to the vehicle's possession.

Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption