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One may generally insure the property of another if you have an insurable interest in it. This means that you have a financial interest in the property that may be harmed …if the property is damaged or destroyed. .
Answer Probably, some companies only require that you have care custody and control of the vehicle in order to be the named insured. Other companies require that… you be the registered owner. The problem that arises is that the finance company usually wants to have the evidence of insurance be in the name of the person responsible for the loan. If you are the named insured but not the name on the loan then the loan company may require that the person on the loan also be on the insurance policy as a named insured. The best way to do this is to have the person that owns the car get the insurance and list you the driver as the principle operator.
If your name is on your car title and registration can the insurance for your car be under someone else's name?
Answer Yes but the owner needs to be named and all driver info need to be given too.
Answer yes but you will be required to add the owners info too.
Answer You just can't place your loan in someone else's name. That other person has to get his/her own loan for the car and pay off your loan.
If you moved to another country but still have a car loan can you refinance that loan in someone else's name?
Answer The "someone else" needs to apply for a loan to pay off your car loan. With your loan paid off, you can sign the title over showing it free & clear.… Don't sign off on the title until you know the loan is paid--or you could find that you no longer own the car but still have a loan to pay.
Insuring a Vehicle in someone else's name. Yes you can. So long as you also list the owner as an insured. See the related questions below. Other Answers No, the insu…rance needs to be in the same name as the person on the loan.
Legally, the car belongs to whoever's name is on the title and registration. If someone else is making payments for another person's car, they can't outright take it but could… have a case in court for ownership, which could result in seizure.
There are many ways to accomplish a registration for someone else: Agency (like a dealer who sold the car to you); POA (power of attorney for the owner who is on vacation ov…erseas); spousal agency (with a note from your husband or wife); trustee (for a trust making the purchase); executor (for the estate of a deceased person); etc.
You can only sell a car if it is titled in your name or if you have paid for the title with intentions to resell and have proof of purchase to protect yourself.
Yes you can, provided they have a license. However, if you intend to drive it also make you sure you are on the policy as well.
What happens is at the discretion of the officer that stops you and the guidelines for that particular state. The officer may merely ticket and release you for no drivers lice…nse since the car is at least insured. But he has the authority to arrest you and impound the car. He also has the authority to ticket the owner of the vehicle if they knowingly allowed an unlicensed driver to operate their vehicle.
Will you lose your car if you make the payments but the loan is in someone else's name and they go bankrupt?
What will happen depends on the decision of the bankruptcy judge. If you are making the payments but the loan is in someone else's name, you do not have a legal leg to stand o…n. Still, the bankruptcy law in the United States, recognizes the need for an automobile. So, that person may keep the car.
The other person has to do it. MN is a BS state.
Yes. You cannot insure anything that you do not own. If you do it is material misrepresentation, voids the contract, and could lead to criminal charges of insurance fraud. The… biggest problem is that no payment can be made on the claim because you do not own the vehicle and the true owner cannot be paid because they do not have a contract with the insurance company. You will have to pay the entire claim out of your pocket including for any injuries and property damage to the third party who you hit (if it is your fault). Answer If you are to drive someone elses vehicle and you are not named on their policy or not covered to drive the vehiicle on your own vehicle policy, then you must purchase insurance to drive that vehicle.
You really cannot have a policy issued without the insured person knowing it as they will have to sign the policy as it is a legal contract. If you sign their name you have co…mmitted a felony of forgery and this is illegal.