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If the primary owner is involved in an accident can the cosigner be held liable for personal or property damage?
I am not an attorney but to my understanding, yes they can!! The other party just has to prove your At Fault. For instance, you co-signed which allowed the primary to get the vehicle which did the damage without you the primary couldn't of gotten the loan and therefore it is your fault. The only way you might not be at fault is if you are not named as a registered owner of the vehicle.
What else can I help you with?
What should you do if you are involved in an accident in which there is personal or one thousand dollars or more in property damage?
claim 4 insurance.
If you helped your mother get a home and her name is on the deed but yours is on the note and she has been missing payments is there an easy way out?
The only option to be removed as a cosigner is to have the secured property refinanced without the cosigner being involved.
Can you claim your personal property that you lost in car accident?
yes, sure!
Are wrecker service allowed to keep your personal property in your vehicle after an accident?
no
Does a cosigner own the property if he pays off the original loan?
The cosigner of the loan owns 1/2 of the property if they are on the title.
What should you do if you are involved in an accident in which there is personal injury or 1000.00 or more in property damage?
Do not leave the scene. Call the police immediately!! After which you would contact your insurance company. Leaving the scene of an accident is a felony in most state in the US. It is known as "Hit and run", or "leaving the scene of an accident."
A boat operator involved in an accident in the District of Columbia must report an accident if property damage exceeds how much?
$200.
A vessel operator involved in an accident must report the accident by the quickest means possible if property damage exceeds what amount?
y the quickest means possible if property damage
Is the cosigner on a property considered to be a co-owner?
Yes. * No. Unless a cosigner is also named on the title to a vehicle or the deed to real property they have no legal rights or claim to said property.
If you are involved in an accident and have no insurance what is your responsibility as far as compensating the other person?
Your responsibilities are no different than when you "Are Insured" You are liable for "All damages", Property Damage and Personal Injury, to the extent you were the cause of that damage.
Can you replace a cosigner for an apartment with another cosigner?
Typically, replacing a cosigner on a lease would require approval from the landlord or property management company, and they may have specific criteria for accepting a new cosigner. It's best to contact the landlord or property manager directly to discuss the possibility of changing the cosigner on the lease.
A boat operator involved in an accident in the District of Columbia must report a boating accident if property damage exceeds how much?
Within 5 days if there is property damage of more than $250
