My car is co-signed For by My step-Grandfather who is sick?

Question

My car is co-signed For by My step-Grandfather who is sick and not expected to make it what happens with my loan ? He does have an administrator his Daughter is But She hates my family and will She get control of my car?

Answer 1

One thing to keep in mind and find out now is how the car is titled...is it titled just in your name, or in both your name and his name? If his name is on the title, even if he is just a co-signer and you are making payments, it could be considered part of his estate (as an asset for the cars worth and a liability for what is still owed on it should he pass away.

If the above is the case, now is a good time to get the car re-financed if you can in your name only and if he is still capable, sign off of the title in exchange for you taking on the debt in full.

If the car is just in your name and your Step-Grandfather is a co-signer, it would likely only become an issue if you would default on the payments prior to his estate being settled (which can take years).

Your Stepfather-Grandfather's debt does not die with him; his creditors can force the sale of any assets to pay off any remaining debts. If you stop making payments now as one poster indicates above, the place that financed your vehicle will repossess the car, auction it off, and both you and your Stepfather-Grandfather (or his estate) would be liable for any shortfalls between what the car is sold for and what is owed.

Answer 2

if you went to the dealership and they told you that you couldn't put the car in just your name that you needed a co signer and you called grandpa and he went down to the dealership and you and him signed the papers then that car is YOURS no one can take it away unless you quit paying for it. The car was never his unless you stop paying for it and he had to pay the payments. Now, if grandpa had been paying your notes for you and the daughter has proof that he paid the payments on that car then it was his but she would have a hard time getting it away from you because it is in your name.

Answer 3

i'm exceedingly particular he wouldn't have any criminal rights in that element. A co-signer is there for protection in case you do not make a fee, and in case you do not make your funds it is going on their credit. they do no longer own the motorcar, and they do no longer have identify to the motorcar. If the motorcar is registered(plates & coverage) below his call, than he can come and take the motorcar, yet when it registered below your call, he won't be able to. see you later as you've been the single responsible for the funds on the motorcar and he refinancing, i do not imagine he may have a declare in courtroom, in spite of the undeniable fact that if he has receipts as an instance he made funds it might want to get complicated. see you later as once you acquire the motorcar and once you refinanced the motive replaced into that it replaced into nevertheless your automobile, and also you've been sharing the money from the non-public loan, than legally it continues to be your automobile, in spite of if he made some funds. If this has helped, then your words to him should be that you're going to work out him in courtroom, if he needs to sue, yet when he comes and takes the motorcar, you'll call the cops.

Answer 4

Co-signer is the guarenter incase you dont pay your monthly payments; in that case he would have to pay. but as long as you continue to pay, she cant just take it away from you

Answer 5

Only if you dont make the payments on time

Answer 6

Pay you payment and you have nothing to worry about.

Answer 7

You should stop paying immediately your step dies if he does, because the debt dies with him