How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard, Attorney
Category: Business Law
Satisfied Customers: 54363
Experience:  32 years of experience practicing law and a businessman.
Type Your Business Law Question Here...
Richard is online now
A new question is answered every 9 seconds

If a grandparent pre-pays a car lease for their grandchild

This answer was rated:

If a grandparent pre-pays a car lease for their grandchild (e.g. 36 month lease, paid in advance), and grandparent puts the car in the name of the grandchild, is there any liability to the grandparent if anything what-so-ever goes wrong?
The child is on his parents' policy and is a dependent of the parents.
Does it matter if the kid is a minor or an adult?

Is it OK if grandparent writes the onetime check to lease company, or should it be to the kid? This isn't a tax question, as it's a gift beyond the exclusion regardless.
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good evening. It makes no difference who pays for the car. If the car is not titled or leased in the grandparent's name, the grandparent does not sign the lease, and the grandchild/car is not on the grandparent's insurance policy, the grandparent has no potential liability. There is no reason to worry about simply writing the check directly to pay for the lease.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which will be helpful to you. If I have not fully addressed your questions or if you have any follow up questions, or if I have misinterpreted your questions in any way, please do not rate me yet, but simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5 faces/stars so I can receive credit for helping you today. I thank you in advance for taking the time to provide me a positive rating!
Richard and 5 other Business Law Specialists are ready to help you
Thank you so much for the positive rating! I appreciate having had the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help!
Richard and 5 other Business Law Specialists are ready to help you

Related Business Law Questions