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Am I liable if I co-sign for a car loan for my 25 yr old daughter who has a separate insurance policy in her name only?
Wiki User
∙ 7y ago
you are of course liable for the note/loan should she stop paying.......if you are a co-signer to the note only and not a co-owner, then your liablity stops at the note.....if you are however a co-owner, of the vehicle as well, then you also have equal liablity(with your daughter) regarding the operation of the vehicle..........
Hudson Parisian
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Who's liable for 29 year old daughter who owns her own car but is on family insurance?
The owner of the vehicle please the people on the insurance policy are liable.
If my 18 year old daughter has an accident and the car and insurance are in her name do you as her parent have any liability?
No you are not liable as your daughter is the owner and named insured
If you cosign for a mobile home are you liable for lot rent?
If you have co-signed as a tenant on the lot then yes you are.
If you cosign for a car loan can you be sued successfully?
Yes. If the signer defaults on the loan, then you, as the cosigner, would be liable.
If I were to Cosign for someone so they could get a car what happends What is my obligation then?
You could be held liable for the payments if the other party defaults. Your signing the contract is "insurance" for the lender that payments will be made, and they will consider you responsible if the primary party defaults.
Is the insurance company liable to replace a stolen car with only liability insurance?
If you only carry liability insurance, that is all that the insurance company is liable for in this state.
What if your daughter has a car accident with your car?
This is actually a pretty complicated question. If you have insurance and your daughter is on your policy, you are covered. No worries. If you have insurance and your daughter has her own insurance, you are covered. If you have insurance and your daughter has no insurance, is not on your policy, and isn't part of your household, you are probably OK. Insurance will accept her as an alternate driver. If you have insurance and your daughter has no insurance and no license, you most likely have a rider on your insurance policy that says she is not a covered driver. You may be screwed. Depending on the state you live in, you may still have minimum liability and the other coverages may be void. If you have no insurance and your daughter doesn't either, you are screwed. The other driver and their insurance company will sue her (as driver) and you (as registered owner) and you are each jointly liable for the full amount of damage. With no insurance company to negotiate for you, you will be paying till it hurts.
If you cosign your son's rental agreement are you liable if he has parties where minors drink alcohol?
A cosign agreement is usually just a financial agreement to cover the rent or damages if your son can't pay. I don't think it has anything to with underage drinking.
Is a cosigner liable for an automotive repossession in Michigan?
When you cosign for an automobile purchase you are typically liable for an automobile repossession in Michigan. The reason why is because you are responsible for car payments as a cosigner if the primary debtor cannot pay.
Who is liable for my adult daughter's car accident?
Who is the owner of the car your adult daughter was driving, you or her? If you, you can both be liable. Her as the driver, and you as the owner of the vehicle
If the driver of a car is liable for an accident who is liable the owner of the car or the driver's insurance company?
The owner of the car is liable for the accident itself and the damage. However, the insurance company might have to pay for it, depending on the owners insurance cover.
Is a cosigner liable for a death if the car has no insurance?
No, a co signor would not be liable. A co-buyer would be liable.
