I would like to know if my cosigner can be sued if there is an accident that exceeds my insurance or is not covered?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
I would like to know if my cosigner can be sued if there is an accident that exceeds my insurance or is not covered?
Since I have little to go after, I was wondering if my cosigner’s money was at risk?
Asked on July 1, 2013 under Accident Law, Indiana
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If the co-signer only guaranteed the financing, then he or she cannot be sued for an accident (unless he or she happened to be driving): if he or she is not an owner of the vehicle, he or she is not liable for accidents. However, if the co-signer is a part owner--that is, he or she is on the title, too--then yes, he or she could be sued if there is an accident; any owner of a vehicle is potentially at risk for accidets.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.