HiIf I co sign for an automobile loan for my 24 year old daughter, am I considered a co-owner and will my name appear on the title? More imp...

Question

Hi

If I co sign for an automobile loan for my 24 year old daughter, am I considered a co-owner and will my name appear on the title? More importantly, what are the legal implications of me being a cowoner if there is a claim or lawsuit say from an accident involving my daughter?

Thank you

Tony T

[email protected]/* */

Regards

Answer

A co-signer is not necessarily on title, and shouldn't be from an owners liability standpoint. Any owner of a vehicle can be held liable for injuries caused by a driver of that vehicle. Make sure there is very good liability limits or avoid being on title.