Cosigner/ Title Issue

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Cosigner/ Title Issue

I need to know WHY a cosigner for a car whose name is not on the title cannot be held liable if there is an auto accident in Miami-Dade County, Florida? Is that a law?

Asked on June 17, 2009 under Accident Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

If they are  not on the title, they are not an owner and do not control or have responsibility for the vehicle. They are only providing or guaranteeing financing. If you buy a baseball bat, for example, using a credit card and then hit someone with the bat, the credit card company is not liable; your title insurance company on your home (who guarantee, through insurance, payment in some situations) is not responsible if you miss mortgage or tax payments; if you finance a car over time, the financing company is not responsible for an accident. Merely guaranteeing or providing financing without having ownership and/or control does not equal liability.


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