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Jordan Said:

Corporate leased car for small business.?

We Answered:

You have the car insured on a personal auto policy, right? But it's leased to your business. That means, your business is liable for any accidents. Does your business have any insurance to cover the car accidents?

You cannot add a corporation as named insured, or additional named insured, on a personal auto policy. Did an attorney write up the lease, leasing the car from you to the company? Who does the DMV say is the lessor of your car? Your business, or are the plates in your personal name?

I think your company is doing this wrong. If the goal is to put all the ownership and operating expenses for this car under the business, I think the title needs to be transferred to your company, and you need a commercial auto policy on it. If you don't have another personal car that you or the wife drives, you ALSO need to add "drive other car" coverage on the commercial auto policy.

Felix Said:

so can you explain this part then?

We Answered:

Captain, it's an editorial, not a question. I have no idea if you play the market or not. If so, you must be doing better than most for you to suggest this position. If not, how would you know? Investing in stocks, bonds, or funds is a complicated procedure. I'd like to see stats on whether a majority or minority of investors in the markets lose money. I'd bet a large majority lose, & a very small minority will gain significantly.

Figures don't lie, but liars figure. Stocks & funds are risky investrments because few people understand how the markets work, thus making them easy marks for the crooks. Without an accounting degree, I have no business trying to out play the experts.

Besides, SS is meant to be retirement insurance, not an investment. This insurance has a higher rate of return than any privately offered policy, making it a good deal.

EXCEPT that as now funded, it will become bankrupt in less than 50 years. As long as the birthrate is lower than the death rate, eventually it will become bankrupt no matter what we do to fund it properly. We need to use the time it is solvent to encourage our people to save (not live in debt) toward retirement. This system cannot last forever. But private investment from SS money is just wrong.

Ray Said:

Purchasing with clouded title?

We Answered:

I would seek the advise of an attorney. They can clean up the title for you in most cases, but you'll pay for it. I have a similar issue with an adjoining piece of land I want to purchase, my attorney said he could clean it, but it will cost, in my case, more then the land is worth to me.

Just to ad to this, in my case, the owner of the land died in 1950. The son, then grand daughter paid taxes on the land but never transfered ownership. From what I gathered from my attorney, he would have to prove the grand-daughter is the legal owner by way of paying the taxes, where as no other heir ever made an effort to pay them, nor in the years since the owner's death, ever came forward to put a claim on it.

But I am talking about useless land, unbuildable, assessed at $1000, with a tax of $50 a year.

Morris Said:

Major Confusion, Rear-ended my husband, and may not be covered by insurance....?

We Answered:

Try to deal it out of pocket, otherwise insurance rates will go up much more. You can check how quotes will change here - autoinsurance.undonet.com