Legal Question in Real Estate Law in Maryland

What if co- signer of car loan passes. Does other person become sole owner

Asked on 9/02/13, 2:24 pm

1 Answer from Attorneys

Robert Sher Wagshal and Sher
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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.

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Answered on 9/03/13, 7:45 am

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