Hi
I co-signed the name of a car to a friend because he did not have permanent license. The car dealer said that when he gets the license they will remove my name from the car. He has already paid for the car and have the car license. We forgot about removing my name. Now we have recieved the registration card which has both our name on it. How can i remove my name from it? Will there be any problem even if i keep my name on the registration?
Thanks.
2007-04-28 16:35:03 · 2 answers · asked by MeAnswer 3 in Cars & Transportation ➔ Insurance & Registration
If you do not get your name off of the registration if he gets in an accident you can and may be liable. Yes, the person he hit can sue you for money, lots and lots of money. To get your name off you should sign off, sign the car over. Unless you wish to take over the car because you have made over half of the payments you can take him to court and possibly claim the car as yours. That was a very nice thing for you to do.
2007-04-28 16:47:38 · answer #1 · answered by ME 4 · 0⤊ 0⤋
Go to the DMV or county court house, whoever handles the registrations in your state, and transfer the title to the other guy. If he is using the car and gets into an accident and injures someone they may try and come back on you since you're part owner of the car. You are smart to get your name off as soon as you can. good luck
2007-04-28 23:41:52 · answer #2 · answered by Fordman 7 · 0⤊ 0⤋