Full question:
In Missouri regarding auto lease, if lessee is contractually required to keep continuous liability and physical damage and insurance is cancelled and wreck happens is lessor at all responsible if leased vehicle is titled in lessor's name? Also is there a Missouri statute I could go to for lots of info?
- Category: Automobiles
- Subcategory: Lease
- Date:
- State: Missouri
Answer:
In some cases, the lessor of a vehicle may be held vicariously liable if the lessee fails to maintain the required liability insurance. If an injured party sues the driver and the vehicle's owner, the lessor may have a contractual claim against the lessee for any losses incurred due to the lessee's negligence.
Missouri law mandates that all motor vehicle owners maintain liability insurance. Vehicle owners must provide proof of insurance when registering or renewing license plates and must keep proof in the vehicle. If a law enforcement officer requests proof and the driver cannot provide it, both the driver and the owner can receive a ticket.
The law defines an "owner" as someone who holds the legal title to a vehicle. This includes those with a conditional sale or lease agreement that grants them immediate possession (Mo. Rev. Stat. § 303.025).
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.