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Answered 2006-12-28 14:43:23

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.

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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.

How do you get out of a leased vehicle?

Open the door!

Can you return a leased vehicle after one day?

why not.

Can a teen drive a leased vehicle?

No They Cannot.

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

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.

How do you find where your old leased vehicle is?

Purchase a Car Fax report.

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 ?

Repossession of a leased car in ct?


Can you get vehicle leased if you don't have a valid driver liscensce?

Yes u can snartypants

Can you put a lien on a leased car?

If it's leased from you, there's no need for a lien, as the terms of the lease already cover what a lien would cover insofar as asset recovery goes. If you're leasing the vehicle, then no, since you don't own the vehicle to put a lien on to begin with. Mechanic's liens, and government liens (e.g., impound liens), however are still applicable to a leased vehicle.

How do you register a leased car in NJ?

Even leased cars must be registered to the leasee. You must go to your local department of motor vehicles to have your vehicle registered.

What happens if a leased vehicle is in an accident?

If a leased vehicle is in an accident, the lessor has to notify the lease company, along with their insurance company. Sometime the lease company will have you go through your insurance for repairs, other times they send you to their repair shop (if they have one).

Does an auto dealer such as Nissan have the right to repo a leased vehicle if the vehicle is not insured?

YES. Read your contract. Does it call for you to maintain ins???

Can a deceased person in Texas be sued for the return of a leased vehicle?

Yes, the estate can be required to return a leased vehicle according to the terms of the lease. If you read the fine print, it's there. Do you think that the vehicle should remain the property of the estate when it was only leased in the first place? That's the idea of a lease, the vehicle belongs to the leasing company and they let you use the vehicle for the terms of the lease. The terms of the lease are defined in the contract. If the estate of the deceased has been sued, I'm sure it is consistent with the terms of the contract.

How does repo of a leased vehicle differ from repo of a financed vehicle?

NO, a lease is simply a contract like a loan. DEFAULT of either calls for repossession.

What is the risk to be a co signer on a leased car?

A common misconception is that the "cosigner" is not financially responsible for the security of the loan/lease (the car) until after the primary has defaulted. Nothing could be more wrong. The primary and cosigner are simply terms used to differentiate between the two signors. Legally, both are equally responsible for the debt, from the signing of the document until the last payment is made. If payments are missed, both will have their credit rating dinged. If the contract goes into default, both will be contacted by the lender or its agents. In truth, one should never cosign for anyone if that one cannot be trusted unquestionably and unless the cosigner can afford to pay the loan if that should become necessary.

What happens when your leased vehicle is repossessed?

READ your lease contract. It should specify the results of repossession.

How to buy a car that is leased when the lease is finished?

Refinance for however much is left owing on the vehicle.

I had to raise premium for my leased vehicle insurance says this will raise it for both this and my finance car in New Jersey Is this true or should i be able to increase just leased car?

they raise there young