What to do if my stepdad and I are co-signers on a car loan but he is now talking about taking the legal steps to get his name off the car?

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What to do if my stepdad and I are co-signers on a car loan but he is now talking about taking the legal steps to get his name off the car?

I cannot refinance or trade it in. Do they have any say or does he need to finish the contract?

Asked on October 8, 2012 under Business Law, Washington

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Your father can take his name off of the registered title of the car that he co-signed for on the loan assuming he is on title to it and give his interest in it to whomever without your say in the matter. The problem is that he will still be bound under the loan he obligated himself for until the loan is paid off or refinanced.


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