A certificate of ownership of an automobile will usually provide spaces for names of a registered owner and a legal owner. Which of the following statements is true?
A)A registered owner is usually a lender.
B)An equitable owner, who is purchasing the automobile on credit, is also the legal owner.
C)A purchaser-borrower is the registered owner.
D)none of the above

Question

A certificate of ownership of an automobile will usually provide spaces for names of a registered owner and a legal owner. Which of the following statements is true?​
A)A registered owner is usually a lender.
B)An equitable owner, who is purchasing the automobile on credit, is also the legal owner.
C)A purchaser-borrower is the registered owner.
D)none of the above

Quizplus · Accepted Answer

A purchaser-borrower is typically the registered owner of the automobile, indicating the person who has possession and use of the vehicle. The legal owner, often a lending institution, holds the title until the loan is paid off.

A Certificate of Ownership of an Automobile Will Usually Provide