Colleagues,
I'm representing husband. He is the leaseholder on both vehicles, driven by each of the parties. Wife wants to continue driving the SUV. Upon divorce, parties will no longer be living together. Since car was leased in August 2015, the leasing company won't transfer lease from H to W or let W exchange for another lease, not until August 2017. Husband just advised that he has persuaded them to add W's name to the lease. So both will be leaseholders.
1) Insurance company advises that both parties could remain on same policy with W listed as an operator on the SUV. 2) Insurance company also advises that W could get her own policy with H listed as an interested party but not as a driver, so he would not be rated on that policy. (H would have to show proof that he has his own insurance, which of course, he does.)
We are also asking that W increase the liability on the SUV to the maximum ($500K per person and $500K per accident).
I'm looking for the right language for the MSA. I don't want to be recommending what to get but I want my client protected in case W gets into an accident while H's name is still on the lease.
I blame the leasing company for its inflexibility in these circumstances.
Please let me know if you can enlighten me with a provision. Thank you so much.
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Mary Jane Leland Esq.
Leland Law Firm, LLC
Freehold NJ
(732)409-7777
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