What if co- signer of car loan passes. Does other person become sole owner
1 Answer from Attorneys
You are confusing borrowing with owning. Whose names are on the title to the vehicle will determine who will own it following the death of the "co-signer". If the deceased's name was on the title, then a new title will be issued in the sole name of the survivor upon presentation of a death certificate to MVA. Of course, the lender's name is on the title as a lienholder and that won't change until the loan is paid off. If only the survivor's name was on the title, then nothing changes with respect to ownership.