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Old 07-10-2017, 03:23 PM
 
Location: Avery Ranch, Austin, TX
8,977 posts, read 17,564,966 times
Reputation: 4001

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Quote:
Originally Posted by jencam View Post
She can't have it gifted to her while he is making payments. Actually, she said 'technically financing' which likely means she is making the payments, which is actually illegal (straw purchase). I don't care about that, I am just saying that is not something she wants to announce to a government office. )
I'd be very surprised if this "straw purchase" would be deemed illegal. It's not a firearm.
The recipient would have to be legally forbidden from owning the vehicle for there to be a problem, IMO. Now, misrepresenting the ownership or principle drivers to the insurance company is another matter.
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Old 07-10-2017, 04:14 PM
 
202 posts, read 353,187 times
Reputation: 218
Quote:
Originally Posted by 10scoachrick View Post
I'd be very surprised if this "straw purchase" would be deemed illegal. It's not a firearm.
The recipient would have to be legally forbidden from owning the vehicle for there to be a problem, IMO. Now, misrepresenting the ownership or principle drivers to the insurance company is another matter.
Don't worry, the car is registered in my dad's name but all of the insurance is in my name!
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Old 07-11-2017, 12:11 AM
 
420 posts, read 403,762 times
Reputation: 728
Right. That's called a lack of insurable interest. Oh well.

Anyway, you cannot register that vehicle in your name. You need your dad to do so.
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Old 07-11-2017, 07:38 AM
 
Location: Avery Ranch, Austin, TX
8,977 posts, read 17,564,966 times
Reputation: 4001
Quote:
Originally Posted by katiev111 View Post
Don't worry, the car is registered in my dad's name but all of the insurance is in my name!
WAY down the list of things to consider IF something should happen to your Dad is the legal challenge you could face regarding the ownership of the vehicle. At the least, you should probably get your name on the title just in case. Depending on the vehicle, it could involve tens of thousands of dollars, not to mention the hassle.
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