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Can my homeowners insurance refuse to cover my fiance for loss or liability on the home we jointly own because he is not related to me and make me buy renters insurance for him in NJ?
Wiki User
∙ 16y ago
Laws may be a little different in the Armpit of America but in the communist state of MA as long as you jointly own the home then you would be jointly covered on the home policy. If so then they cannot refuse your claim. If he is not joint owner he would have to get a separate tenants policy. The solution? You own everything excpet for mens clothing.
Wiki User
∙ 16y ago
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Why would a spouse be considered a secondary owner of real estate property?
Either because they jointly participated in the purchase or jointly obtained a loan on the home, or because the home is located in a community property state.
What is the difference between an ordinary partnership and an extraordinary partnership?
ordinary:in an ordinary partnership the partners are jointly and severally liable for the debts of the undertaking. extra ordinary:where the liability of the partners towards third parties are limited
Can a joint executor make decision without the other?
In Texas, they must act jointly.
Can two people jointly own stock?
How to own property can differ from state to state. Also, corporations and securities companies can have their own restrictions. For example, I know of a bank that creates all joint accounts as having survivorship rights, they do not create tenants in common. Caveats aside, yes, people can generally own stock together jointly.
What are differences and similarities between a proprietorship a partnership and a corporation?
Sole Proprietorship: Similarities: Ownership: In a sole proprietorship, the business is owned and operated by a single individual. Decision-Making: The owner has full control over decision-making and operations. Taxation: Both business income and personal income are often filed together. Differences: Liability: The owner has unlimited personal liability for business debts. Continuity: The business is tied to the individual owner, so continuity is a concern in case of illness, death, or the owner's decision to sell. Partnership: Similarities: Ownership: Partnerships involve two or more individuals who share ownership and management responsibilities. Decision-Making: Partners jointly participate in decision-making. Taxation: Partnerships are pass-through entities, and profits or losses are passed through to individual partners. Differences: Liability: In a general partnership, partners share unlimited liability. In a limited partnership, there's a distinction between general and limited partners. Continuity: Like sole proprietorships, partnerships may face challenges in continuity if a partner leaves or passes away. Corporation: Similarities: Ownership: Corporations have multiple owners known as shareholders. Decision-Making: Shareholders elect a board of directors, who make major decisions. Officers appointed by the board handle day-to-day operations. Taxation: Corporations are taxed separately from their owners. Differences: Liability: Shareholders have limited liability, meaning their personal assets are generally protected from business debts. Continuity: Corporations have perpetual existence, which means they can continue to exist even if ownership changes. Capital Raising: Corporations can easily raise capital by selling shares of stock. In summary, sole proprietorships and partnerships are simpler in structure and offer less protection against personal liability, but they are more flexible. Corporations, on the other hand, provide limited liability and greater opportunities for raising capital but involve more complex governance structures. The right choice depends on factors such as the nature of the business, the number of owners, and the desired level of liability protection.
Do you have to put the auto insurance in your name if the co-buyer wants to insure it by herself?
You both have to be named on the insurance policy because you still can be jointly sued as being co-owner of veh.
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 your name is on the insurance card are you responsible for the bill too?
Yes. If your name is on anything you are jointly responsible for a bill and vice versa.
Do you have to file jointly if married for four months?
No, just because you get married does not mean you have to file jointly. You can always file separately. Hope this helped.
Why would a spouse be considered a secondary owner of real estate property?
Either because they jointly participated in the purchase or jointly obtained a loan on the home, or because the home is located in a community property state.
I cosigned on an automobile loan and insurance for my son. Who is responsible if the insurance is not paid up and he gets in an accident?
As a cosigner, You are jointly and separately liable for any and all amounts that might arise out of the finance note you guaranteed.
What is the definition of Coinsurance?
Insurance jointly with another or others; specif., that system of fire insurance in which the insurer is treated as insuring himself to the extent of that part of the risk not covered by his policy, so that any loss is apportioned between him and the insurance company on the principle of average, as in marine insurance or between other insurers.
A public program that is jointly funded jointly administered and jointly determined by both state and national government is an example of?
A public program that is jointly funded jointly administered and jointly determined by both state and national government is an example of cooperative federalism.
What happens if someone who is not on your insurance has an accident with your car?
Some aspects of the answer depend upon the state in which you live and the law to which it adheres. For example, in many states, the owner of the vehicle and the driver are jointly liable for the damages to the third party if the driver was using the car with the knowledge and consent of the owner. Generally, permission is presumed to exist in the absence of the car having been stolen or there being an express, provable, refusal to permit its use. In general, if the car was insured for liability coverage and the driver was not listed on the policy as a permissible user, the insurer will likely disclaim coverage. This is because it was not paid a premium to assume the risk of his/her use of the car. If the owner did have liability insurance on the car, and if the driver had liability insurance on a different car that he/she owned and normally drove, the law of the state in which the collision occurred would likely address who's insurance is "primary" and who's is "excess"; this essentially means which insurance pays first before the other may be called upon. Often, the driver's liability insurance is primary because he/she is the actively negligent party, while the owner bears only a vicarious liability. Keep in mind that "what happens" also depends on fault. That is, the occurrence of a collision does not necessarily mean that anyone pays anything to anyone. In order to be entitled to damages, one party has to be found negligent (careless). Even the issuance of a traffic ticket for the collision is not determinative of the issue. A ticket is essentially the police officer's accusation that a traffic law was violated; it still has to proven. An adjudication of guilt on the ticket may have a bearing on a later finding of civil liability for damages. If the matter proceeds to suit and a judgment is entered against the owner/driver, and the judgment remains unpaid for a statutory period of time (often 30 days), the person(s) against whom the judgment was/were entered are subject to having their licenses/registrations suspended based upon the state's Financial Responsibility Law.
What is the difference between an ordinary partnership and an extraordinary partnership?
ordinary:in an ordinary partnership the partners are jointly and severally liable for the debts of the undertaking. extra ordinary:where the liability of the partners towards third parties are limited
Can parents be sued for liability for a child on their auto insurance policy while a daughter drives her own car and is not living with parent and a title of her car is on her parent's name?
Yes, The owner of a vehicle is just as liable for an accident as the driver. Both the driver and the Vehicle owner are both jointly and severally liable for the cost of an at fault accident.Since you say the title is in the parents name, Then the Parents are in fact the legal owner of the vehicle as far as the state is concerned.The at fault driver is liable because they caused the accident, The Registered Owner is liable because the owner has a responsibility to ensure that all permissive use drivers have the appropriate insurance coverage before allowing them to operate the vehicle.Yes, If your daughter is still a minor, the legal guardian (usually the parents) can be sued under parental liability statutes even if the vehicle is not owned by the parents.
What rhymes with jointly?
There are no perfect rhymes for the word jointly.
