If I co-signed a car lease for my 21 year old daughter and now she’s unemployed and unable to make payments, can I be released from the payments?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I co-signed a car lease for my 21 year old daughter and now she’s unemployed and unable to make payments, can I be released from the payments?
She lost her job and I have been paying her car and insurance. I am retired and cannot continue to help her.
Asked on October 20, 2014 under Business Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
No, you cannot be released from the payments unless *all* parties to the lease--that is, your daughter and the dealership or financing company (whomever you signed the lease with) agree to release you; one party to a contact cannot be let out of his or her obligations unless every party agrees to it. The fact that you are retired, that you may not be able to afford the payments, etc. is not a defense to the liability you voluntarily took on when you signed the lease. Becoming a co-signer means being responsible for the payments no matter how hard or inconvenient they are if the mainn signer cannot or does not pay them.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.