If I co-signed for my son to buy a truck and I was supposed to be primary owner, now that he has now totaled it who gets insurance payout?

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If I co-signed for my son to buy a truck and I was supposed to be primary owner, now that he has now totaled it who gets insurance payout?

I co-signed due to his lack of credit. He missed payments so I tried to reposses the truck. He got ra estraining order after I made several payments. He has now totaled the truck and we are both listed on title as owners. He carried insurance however the payout came to me. Can I keep it?

Asked on May 9, 2012 under Accident Law, Florida

Answers:

david slater / david p.slater, esq.

Answered 9 years ago | Contributor

As an owner you can if made out to you, but you should  pay off the lender.


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