My question involves an auto loan or repossession in the State of: Texas
I financed a car for my brother a couple of years ago because his credit wasn't good enough. The only way it could be done is if I was primary and he cosigned on the loan. The car was bought for his use and he has made all payments on time. He has kept insurance on the car as best I can tell from the lender. The loan is in my name with him as the co-signor and both names are on the title. I don't have a good relationship with him anymore and would like to get my name out of the deal but I am fairly certain he still can't get the car refinanced in his name. I have no need for a 3rd vehicle and probably can't afford it now anyway. I don't think he has been ontime with keeping the car registered, inspected, insured and recently I got a hefty parking ticket citation in the mail (parked in a handicap with expired placard). I was not aware of this till a week later. He has changed registration address in the past to an old one (that he has not lived at for 2 years) and has also given an old work address to the lender as the location of the car. How I found that out was a I received notice in email that there was an address change on my credit. I also believe other people are driving the car. I am growing more concerned for my liability now.
My questions are:
Can I obtain possesion of the car without his acknowledgement or consent?
Can I do a voluntary repossesion without his consent?
Who is ultimately responsible to provide insurance?
If there is an accident and I am not the driver can I be held liable?
Do I have any rights to say who can or can't drive the car?
Are there any other options to get my name off the car?
thanks in advance for any and all help.