Can someone be on the title of a car but not the loan?

Can someone be on the title of a car but not the loan?

Can I add another person to my car title if they aren’t on the loan? An auto title indicates who legally owns a vehicle. Some lenders will allow loan holders to add another person to the title that isn’t a part of the original loan and some will not. Check with your lender for details.

Can a vehicle be registered under one one name and a loan in another India?

If the loan is alive, then it is a possibility. Transferring the car to anyone’s name will again require NOC from bank for the transfer. May be a letter from the bank explaining the circumstances coupled with a letter from you and your wife can convince the RTO.

Can you put a car under two people’s names?

(a) A vehicle may be registered in the names of two (or more) persons as coowners in the alternative by the use of the word “or.” A vehicle so registered in the alternative shall be deemed to be held in joint tenancy.

Can I finance a car and register it in my wifes name?

When you get a car loan, the lender wants to see your name on the title and registration. But what you can do is put both your name and your spouse’s name on the title. If you decide to do this, you shouldn’t have any problems getting the loan, nor will your spouse be responsible for the payments on the loan.”

Can I finance a car and put it in my wife name?

If your spouse wishes to buy a car and finance it with a car loan, they are free to do so. Once they have bought a car, they are free to let you use it. However, if you are the owner of the car, the loan is going to have to be in your name. Your spouse can’t get a loan backed by an asset they don’t own.

Can a person register a car under two different names?

Yes, they can. If the registration and title show two different names, the owner (the name on the title certificate) must authorize the other person to register the vehicle by must completing box 3 on the Vehicle Registration/Title Application (PDF) (MV-82) or completing the Registration Authorization (PDF) (MV-95) form.

Who is the legal owner of a car loan?

The names listed as owners on the vehicle title are the legal owners of the vehicle. If only one name is listed on the title, then that person is the legal owner, no matter who may be paying the loan.

Who is the legal owner if only one name is listed?

If only one name is listed on the title, then that person is the legal owner, no matter who may be paying the loan. The lender actually holds the original certificate of title for the vehicle as security for its vehicle loan, and then the lender provides a memorandum of title to you listing the owner(s).

Can a car loan be transferred from one person to another?

Car Title Transfers. It is possible two people are listed on the car loan and on the title. In this case, it is not clear who is entitled to have the vehicle if there is a dispute. You can take this issue to court, and a judge may seek to verify who actually made payments, who used the car as a primary vehicle, and other factors.