Co-signing for Brother - what is my Liability?

[djs]

Let's pretend for a moment. Real case scenario
Husband and wife buy a house. Hubby first, wifey second on the mortgage. She's at work. He's home. He goes nuts and kills his next door neighbor when he came over to ask to borrow his power drill.

Is the wife in any way legally responsible? Criminally or in a civil case?

In a civil case, since they are married, she'll lose. No way she walks away untouched.

In a criminal case, if she knew hubby was mentally not all there, knew the gun was there, had reason to suspect 1+1 might = 2 that day, then yes, she can be held criminally liable as well.

Then, keep in mind, its not whether you win or lose the case, its the fact the case will be brought up against you and its expensive to defend.

So, as you said. There is your answer.

Dan

 

[ZappMan]

...

My concern is insurance liability. Specifically, If I co-sign on an auto loan for him and he gets in an accident, can I be held liable?
....

(In New York)

It's simple you have no liability! The carrier doesn't care about the loan, that's on you.

Certainly DON'T get listed on the policy because then you will have a liability exposure. You don't want anything to do with the insurance policy, the title or the registration.