If our 20 year old son lives in our house and he were to get into an auto accident, as his parents would our assets be at risk?

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If our 20 year old son lives in our house and he were to get into an auto accident, as his parents would our assets be at risk?

Or is he completely financially responsible?

Asked on June 11, 2015 under Accident Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

IF he gets into an accident in his car, which he pays for, and has his own insurance, the parents would not be responsible for any damages (amounts he is found to have to pay) due an accident in which he is at fault. But if the car is yours--even if it's only "indirectly" yours, such as it's titled in your name, but you can be shown to pay for it--then as the vehicles actual or constructive owners, you could be held liable, putting your assets at risk.


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