Legal Question in Real Estate Law in Washington
As a co-signer on my daughters auto loan, what if any are my legal rights. Due to her negligence of necessary car maintenance my concern is the car will be run into the ground and I will be left picking up the pieces.
1 Answer from Attorneys
Unfortunately, signing as a co-signor makes you responsible for your daughter's payments on the car, no matter what happens to the car, and assuming your daughter is an adult, there really is nothing you can do to keep her from wrecking the car or even making payments on it.
You should continue to monitor that she makes the payments on time, otherwise, be ready to pay the payments yourself. The last thing you need is for your credit to be wrecked over this situation. Alternatively, if you can, you may want to consider making the payments yourself to control your credit rating, and then get your daughter to pay you.