Legal Question in Real Estate Law in New York

This concerns a vehicle. The vehicle in question is registered and insured by my wife. My mother-in-law drives the vehicle and makes payments on it. My wife pays the insurance. This past weekend the vehicle was involved in an accident and insurance company said it was a total lost. The amount left on the car to pay it off is $9500 and the damage came out to be $12000. The insurance would pay the $12000 for the damages. There is $2500 left over that the insurance will pay the owner of the vehicle. Who is legally entitled to the $2500, my wife or my mother-in-law?


Asked on 3/24/11, 6:46 am

1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC

Legally? It would be the owner of the vehicle. Whether the owner of the vehicle should pay the individual that made payment on the vehicle would depend on the contract between the two individuals.

Mike.

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Answered on 3/24/11, 9:11 am


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