Should Car Be Registered in My Name or Brother-In-Law

[crew11]

My question involves vehicle registration or title in the state of: Ohio

My wife and I bought a car for my brother-in-law due to his poor credit history (trying to rebuild). The car title is in my wife's name.

My brother-in-law is making monthly payments to us and has insurance for the car.

My wife kept the registration in her name and title with my brother as the named insurer of the car.

Any legal or lawsuit issues having the title and registration in my wife's name while my brother carries the insurance?

Should we re-issue the title under my brothers name and us as lien holders for legal protection?

thanks.

[Mr. Knowitall]

You need to be clear with your insurance agent that (a) the car is properly insured, and (b) the insurance is sufficient to protect you. As your brother-in-law has no property interest in a car that's not in his name, it's possible that an insurance company that issued a policy without being aware of that fact will later determine that he doesn't have an "insurable interest" in the car and thus that the policy is not valid.