If my ex-girl friend co-signed the loan for my motorcycle, does she have any legal grounds to take possession?
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If my ex-girl friend co-signed the loan for my motorcycle, does she have any legal grounds to take possession?
She has absolutely no money invested in the motorcycle. I have the bi-weekly payment withdrawn directly from my individual checking account
Asked on March 23, 2011 under Business Law, New Jersey
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
There is a distinction between being a co-signor and a co-owner. If she is merely a co-signor on the loan and is not a co-owner of the vehilce - ie.e, not on the title to the cycle - then she has no possessory interest in the cycle. In simple language no, she can not take possession of the cycle. She is basically responsible for the payment of the loan on the cycle, just as you are. If you can not pay the loan then she must pay it, and even if she pays it in full, she still does not have any ownership in the cycle. So you can rest easy here. She can not claim your motorcycle.
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