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.
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.
the person the vehicle was leased to is responsible as they are the ones that have caused the vehicle to need to be repossessed.
The leasee is responsible, unless the vehicle is still under warranty and the problem is covered under said warranty
Both parties social securities #'s are sent to collections for the amount due.
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.
Open the door!
No They Cannot.
Unfortunately; yes you ARE responsible the exact same as if you were the PRIMARY person on the lease. Well sorry. k love yayahs
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).
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.
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.