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Hi, I have a car that is owned by my father and myself. We both took out a loan (financed) it through Chase Bank. His name is John and my name Chris. John is on the title of the car, registered under John and the loan is under John and Chris. If I was to remove John from the Title (only would be Chris), and registered under Chris Only and insurance would be a new policy under Chris only, would John be liable in ANY way for potential accidents and issues? Could someone sue John in any way if his only connection to the car is being a co-signer on the auto loan? Thanks, Chris

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No Co-Signer of loan is irrelevant, So long as car is insured to you it doesn't even need to be registered to you if you have an accident its down the the driver of that car at that time.
Re-Registering it to you and changing policy so only you are on it means any accidents Police know its you are your the only legal driver for the car, Your father will have nothing to do with any crashes you have in the car only thing he will be held liable for if you default on your payments and do not pay off the finance then regardless of who's name its in they will take car as payment for finance

Posted on Jul 20, 2010

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Posted on Jan 02, 2017

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