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Who is responsible for a leased vehicle when the person dies if there was no cosigner but there is a surviving spouse?
Wiki User
∙ 17y ago
If the married couple lived in a community property state at the time of the spouse's death, the surviving spouse may be responsible for the lease debt even if she was not an account holder. If the couple did not live in a community property state the creditor will be required to file a claim against the estate of the deceased to try to recover the debt.
Wiki User
∙ 17y ago
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Can a cosigner who is on the title of a leased car be sued for not paying any payments on the car when the primary leasee is paying off the loan?
First of all it would not be possible to be on the title of a leased vehicle, as the leasor retains ownership rights. A cosigner is only responsible for the debt if the primary borrower defaults on the lending agreement.
Who is responsible for damage to a vehicle during a repossession?
the person the vehicle was leased to is responsible as they are the ones that have caused the vehicle to need to be repossessed.
Who is responsible for breakdowns on a leased vehicle?
The leasee is responsible, unless the vehicle is still under warranty and the problem is covered under said warranty
Who's credit rating is affected if a vehicle that was leased with a cosigner is reposessed?
Both parties social securities #'s are sent to collections for the amount due.
If you cosigned a leased car for your daughter and the car and insurance are in her name are you responsible as cosigner for any liability over the covered insurance amount in the event of an accident?
No. Y-THINK-Y * Ordinarily a cosigner would not be liable for anything other than the lending agreement. However, responsibilities incurred by all parties when a vehicle is under lease can be quite different than the purchasing a vehicle. It would be prudent for the cosigner to read the leasing contract very carefully and perhaps seek legal advice if they are unsure of the terms of the contract.
As the co signer for a leased vehicle am i responible for damage to the vehicle when the lease agreement is up?
Unfortunately; yes you ARE responsible the exact same as if you were the PRIMARY person on the lease. Well sorry. k love yayahs
Can a teen drive a leased vehicle?
No They Cannot.
Can you return a leased vehicle after one day?
why not.
Does a bank have to pay tickets on a car it has financed or leased?
No. Tickets must be paid by the driver or the individual leasing the vehicle, and not by the bank. However, once the vehicle has been repossessed, the bank is then responsible for the vehicle (including any tickets which may accrue).
What are the risks of cosigning a lease?
The risk of cosigning on a lease is that the cosigner is responsible for the rent for the leased property even if the other signers do not pay the rent. The landlord can go after one or all of the cosigners on a lease to get rent paid if the lease is not paid for the full term.
Who is considered an operator under CVOR?
A CVOR operator or carrier is the person responsible for the operation of a commercial motor vehicle. The carrier does not necessarily have to be the vehicle owner, but must hold a valid CVOR even when using vehicles that are leased or contracted. Operators are responsible for all the drivers and vehicles in their operation.
If a co owns a veh and is self insured and then hires a driver for that vehicle from another co and the driver has an accident on the vehicle owners property which co would be responsible for damage?
A company owns a truck that is used to move semi-trailers and this company is self insured has leased a driver from another company and the driver has an accident on the truck owners property that involves only the truck who would be responsible for the damages. The company who owns the truck and their insurance or the company who leased the driver ?
