Legal Question in Personal Injury in Michigan
Co-Owner on Vehicle
I'm thinking about being a co-owner on a vehicle title for a friend of mine so she may receive a company discount. Am I opening all my assets to liability/law suits if she is in an accident with the vehicle?
Asked on 10/08/07, 10:23 am
2 Answers from Attorneys
Renee Walsh
LawRefs Nonprofit
Re: Co-Owner on Vehicle
Generally speaking, injured parties and their insurance companies will sue all persons connected to the vehicle and this would mean you. For example, if you were negligent in some way, you could be at risk of liability. Furthermore, you would be responsible for the loan in the event of your friend's default if you signed the promissory note.
If you have further questions, please visit my website at www.lawrefs.com or contact me directly via email.
Answered on 10/08/07, 5:17 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
