I am seeking some mild legal advice from anyone that is in the field.

A very good friend of mine is in a situation.

She and her ex cosigned a vehicle several years ago. She has been paying for the vehicle since day one of the loan. The loan has about 2 or 3 years left. Her ex is now in jail and she would like his name removed from the loan and the title. He is not expected to get out of prison for at least 5 or 6 years.

What need to be done to get his name off the loan and the title? Is this an easy process or will she have to hire a lawyer for this type of situation

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2001 E55

2001 E320 Sedan

2001 Subaru Legacy

2006 SLK280

2016 Subaru Outback 3.6

Can't he just sign over his interest in the vehicle to her?

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1977 300d 70k--sold 08
1985 300TD 185k+
1984 307d 126k--sold 8/03
1985 409d 65k--sold 06
1984 300SD 315k--daughter's car
1979 300SD 122k--sold 2/11
1999 Fuso FG Expedition Camper
1993 GMC Sierra 6.5 TD 4x4
1982 Bluebird Wanderlodge CAT 3208--Sold 2/13

Call the loan company.

the loan company will have to give their permission I believe. He can sign the title over to her but it will not relieve his obligation to the loan company, I doubt. But with him in jail they may release him from it.

Or they may ask her to refinance with an all new loan.

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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.

Most likely they'll have her refi in her name only. Best yet, have her go to her local credit union, if she's a member of it, and see if they'll loan her the money.

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1987 560SL
85,000 miles

Thanks I will tell her to call the loan company and consult with them. I told her to consult with a lawyer but she is too stubborn to.

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2001 E55

2001 E320 Sedan

2001 Subaru Legacy

2006 SLK280

2016 Subaru Outback 3.6

See if the the title says "and" or "or" between the 2 names.

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Click here to see the items I have up for auction at EBay

Click here to see a photo album of my '62 Sprite Project Moneypit (Now Sold)

Commercial Lenders (A.K.A. "Banksters") will release a co-signer ONLY upon
receipt of the FINAL payment.
Death,War,Alien Abduction,Etc. do not even begin to absolve the signer.

X2 on the Credit Union Re-Writing the loan for her!

Doing business with Commercial Banks is SOOO difficult !
Plus,You're Nervous about bending over the desk to sign any papers !

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'84 300SD sold
124.128

Always use 'or' with a spouse.

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On some nights I still believe that a car with the fuel gauge on empty can run about fifty more miles if you have the right music very loud on the radio. - HST

1983 300SD - 305000
1984 Toyota Landcruiser - 190000
1994 GMC Jimmy - 203000

https://media.giphy.com/media/X3nnss8PAj5aU/giphy.gif

can't do that no more here in iowa.i just tried it.it's either my name only,her nae only or it's "and"

that blows...
at least you will have company when you go to DMV.

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On some nights I still believe that a car with the fuel gauge on empty can run about fifty more miles if you have the right music very loud on the radio. - HST

1983 300SD - 305000
1984 Toyota Landcruiser - 190000
1994 GMC Jimmy - 203000

https://media.giphy.com/media/X3nnss8PAj5aU/giphy.gif

The "and" or "or" varies state to state, in WI you can do whichever you like, and as you might suspect it does make a difference when time to get rid of the car, as far as if one or both have to sign.
Gilly

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Click here to see the items I have up for auction at EBay

Click here to see a photo album of my '62 Sprite Project Moneypit (Now Sold)

So, at this point, does she have a title in hand? Usually, the owner doesn't get t title until the loan is paid off. Unless that's a state by state thing.

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-Evan


Benz Fleet:
1968 UNIMOG 404.114
1998 E300
2008 E63


Non-Benz Fleet:
1992 Aerostar
1993 MR2
2000 F250

Without a Credit Union or Bank to advise her she is just wandering in the dark.

In Oklahoma this is taken care of with a stroke of a pen. In Texas it means writing a new loan, transfer of title and payment of sales tax as if it is a sale.

The good news for her is that CU or Bankers see this everyday, so it is really no big deal. It is just a process.

I learned to my great displeasure that its always best to have one name on a title.
Typically, unless otherwise specifically willed to someone, something like a car will automatically got to the next of kin anyway, the surviving wife or husband or family members, so there is no need to put in a redundant clause on the title forcing two people to have their names on it, ect.

Just like this woman, having two names on something turns around to bite you in the a$$. I had a transfer on death clause to an angry ex on my 83 300D years back. Was the easiest thing in the world to add at the time, wasnt really thinking, just said sure, and gave them her name when I registered the car.
Things fell apart, she stayed in the midwest, I moved east, when it came to register my car in NY, I couldn't do it without her permission since NY decided they didn't recognize what a transfer on death clause meant, they just saw two names on the title.

Long story short, according to NY, I had to sell the car to myself with her consent.

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