Co-Signer Rights
Over the weekend my mom got some bad new. My sister's Husband wants the vehicle that he co-signed for back. They bought the vehicle in Arizona and are currently on the Navajo Indain reservation. They are making the payments on time, have it insured and are taking good care of it. They are also letting him use it to visit his sons down in Tucson,Az on a regular basis. he is putting high milage on it for his weekend visits. I guess he and my sister are going through a separation and he is dragging my parents in the middle. I am wondering if they have the right to sue him for the money they paid on the vehicle. from my understanding:
1. My parents put the down payment on the vehicle.
2. He told them that after they made six monthly payments on time, he would call the bank and have them switch it over to my dad's name. He mention it at the dealership with 4 or 5 wintness's standing around him, including the carsales person.
3. They have made good on his promise above by making the payments it on time from Nov 06 to May 07 and he has not done the same.
I am just wondering what actions my parents have and what we can do to resolve this issue they have. thank you in advance for helping me in the matter.
Sincerely,
Derrick
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