I'm not an attorney, but by putting someone on title would indicate they have an ownership interest in the vehicle. Wouldn't that also include a financial liability in the event that their vehicle is involved in an accident, or mandated insurance covering that person too?
I cosigned for my child - she carries state minimum insurance because she has no assets (other than the Bank of Mom & Dad, If I were on title, and she wrapped the car around someone, and they sued, most likely, I would be also named in the suit, with substantially more assets to go after.
I would have your attorneys review the potential of forcing someone to be on title, and if the bank could suffer a reputational risk if the co-borrower was sued.
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