Under the No-Fault law, who is defined as an owner?

The definition of an owner under the No-Fault law encompasses a broader range of individuals than just the legal title holder. The correct answer recognizes that ownership can include several parties associated with the vehicle. A debtor in possession refers to someone who is legally responsible for the vehicle, such as a borrower who has possession of it, while the lessee is someone who rents or leases the vehicle. The holder of legal title is the individual or entity that has the official ownership rights. This inclusive definition ensures that various forms of ownership and usage are recognized under the law, providing necessary protections and benefits related to auto insurance coverage, particularly in no-fault insurance scenarios.

In this context, other options are more limited. They either restrict the definition too narrowly to the named insured or reduce it to just the legal title holder, which does not account for those who may regularly drive or use the vehicle under a lease or with permission. This comprehensive understanding of who qualifies as an owner is essential in determining the applicability of coverage and responsibilities under the No-Fault system.