Q: If a car is being financed an there is a borrower and co borrower whom have split up; who then gets full ownership?
Can one party just show up and take the vehicle with out the others permission as they both have rights to the vehicle or is there always a primary and secondary owner? ALSO is there a way to remove one party from the title before the loan is paid off? Like gifting your portion an do a title transfer at the DMV? The title is listed as AND
A:
If the two names on the title and connected with the word "and" it requires BOTH owners to do anything with the car. That does NOT mean that one of the owners cannot sneak in during the night and take the car; however, to do so would be an unlawful act--perhaps even a criminal act under certain circumstances.
Finally, the creditor bank or whoever will probably NOT allow one of the two owners to "take their name off" the title or the loan. In short, the two of you are stuck.
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