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If a owner stops paying & the co owner cotinues, Do they become the owner?
If the owner is past due & the co owner picks up the sack.
2 Answers
- STEVEN FLv 71 decade agoFavorite Answer
They are BOTH already CO-owners. Who actually pays the bills does NOT change the legal ownership. In order to give actual advice, we need more information. We can't tell from your question is you are referring to a business or a go-cart.
- Anonymous1 decade ago
If they are co-owners, they are co-owners. Both have equal ownership regardless of who actually pays the loan.
If you are referring to an sole owner (borrower) with a COSIGNER, the sole owner remains the owner even id the cosigner makes good on the debt.
