What is the name of your state (only U.S. law)? New York
I co-signed a car loan for my 28 year old daughter three years ago and two years ago she sold the car, She defaulted on the loan after the purchaser stopped paying her installments on the purchase and the car was repossesed by the loan company. As the co-signer of her loan do I have any legal responsibility to the purchaser of the car. He is suing her in small claims court and has named me in the suit because I co-signed her car loan. I had no dealings with the purchaser and did not know my daughter sold him the car illegally.
I co-signed a car loan for my 28 year old daughter three years ago and two years ago she sold the car, She defaulted on the loan after the purchaser stopped paying her installments on the purchase and the car was repossesed by the loan company. As the co-signer of her loan do I have any legal responsibility to the purchaser of the car. He is suing her in small claims court and has named me in the suit because I co-signed her car loan. I had no dealings with the purchaser and did not know my daughter sold him the car illegally.