If I am a cosigner on an automobile, what are my rights to get this debt and title in my name only?

Question

If I pay off this debt may I get the title in my name only? Do I need the other person to sign off on the title of this automobile before I can get a clear title? What do I do to get the other person off the title of this automobile?

Answer 1

You can get the title in your name only if you go to DMV to have it switched. It might cost a small fee. If you want to do this before the debt is paid off you'd have to get the loan refinanced into your name, which would affect the terms of the loan (number of payments and interest rate).

Answer 2

The title has to have you listed as a co owner in the wording must say " Or " if it says " And " then both of you will have to sign the title with the lien against it to transfer it into one owners name. As for the lien holder ~ not sure what their stand would be on it. Most likely both would still be liable unless the original lien is paid, either by refinancing or straight out.