My son is 18. I cosigned a brand new car for him. He just lost his license for wreckless driving. He claims he will continue to drive anyway. I need to know if I can legally have his name removed from the car to protect myself.
I am so sorry to hear this. First, let me tell you it is my policy to recommend that my clients never put more than one name on a motor vehicle. Just because you may have co-signed a loan does not mean you have to have your name on the title as well. This is a prime example of my advice. You cannot get his name off of the title unless your son agrees. Also, you will need to carefully read the loan documentation you signed to see if transferring the title to a different ownership than indicated at the time the loan was approved is prohibited. Unfortunately, if your son wrecks the car, and a lawsuit is brought, you will also be sued as an owner. I wish I had better news.
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