I co-signed a loan on my son's car; so my name is on the title with him; if wrecked am I Liable?

The problem is that my son, who got married 5 years ago, is now seperated from his wife and in the process of filing for divorse in California... She is driving the car and my name is still on the title.

The orginal loan/lien was paid-off 8 months ago, they moved out-of-state last month and they cannot find the title or pay-off papers to get it registered in the new state, plus she just informed me that she thinks the insurance was cancelled.

I live in Michigan and the car is in California! My son gave her the car when they seperated. Am I liable if she gets in a car accident?

Sue

If you are named on the title, you would be liable. Are you SURE you are on the title?? If you only co-signed the loan for your son, you signed on the bottom of the loan only, just guaranteeing the loan will be paid, you should not have been on the title. If you were co-maker of the loan - the actual loan was in both of your names, then your name would be on the title.
If you were on the title, you SHOULD have been an additional insured/co-owner on the insurance policy to protect your liability. If you were on the title, you should be able to get a duplicate title from MI, call the DMV. Your son should be able to do the same if it was in his name. If your name is on the title, get a copy from the DMV & sign it immediately over to your son & send it to him. He'd better get in touch with his divorce attorney regarding her driving around without insurance or a valid registration (can't register it if they don't have the title) & find out what he can do about it, because even if you are not liable, he IS.

dj_lonewolf69

you are most definatly liable.

Theo

Driving without insurance is illegal in California. I think you have reason for concern, though it is more likely the driver would be held responsible.

If you feel you have no claim to the car, then sign it over to your son. Contact the motor vehicle department of the state that issued the title document, and see what the procedure is to get your name OFF the title. (You may be able to do this over the internet.)

It is possible to get a duplicate title issued on a vehicle, though there is likely to be a significant charge - like $50. You will need information about the car. In all probability, the loan documents have that information. Otherwise, try to get the last licence plate number from the state that issued the title, as well as the vehicle identification number (VIN) which can be found on the dashboard, visible from outside the car, driver's side.

Say What?

If your name is on the title, you are liable.
Also, they sound very irresponsible, so I would be worried.

CwboyBill

Yes.

mel s

If the insurance is in your name, you are liable.

angela j

yes! please people do not co-sign for anyone, esp family,, they will f$#k you over! yes you are responsible,, why not treat a contract you sign for someone else like it was your own, like it is now?

Darth Amyus

Only if she is on your insurance. Otherwise, your fine.

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