Let's say that this person left no will, has no real estate, isn't married, has no kids and owes on the furniture that is in the apartment. The closest living relative wants to claim all that, including the car. Does that person then take over the payments? And if no one wants to claim anything, who pays off the remaining bills?
2006-07-24 07:21:41 · 5 answers · asked by welly 2 in Politics & Government ➔ Law & Ethics
If someone dies without a will, then it's called being "in testate". When that happens, either everything is sent back whence it came and nothing happens to anything, or someone has to open a probate on the estate, become the executor (or the state will appoint one), and then file a plan with the Court about how they will satisfy the creditors and distribute the remaining assets. No one can get title to the car with the permission of the Probate Court, so it's more than a matter of taking it and making payments on it. If there are debts and the person left assets, then the creditors can petition the Court to open a Probate Estate and have an executor named who will liquidate the estate and satisfy the creditors.
2006-07-24 07:38:16 · answer #1 · answered by Anonymous · 3⤊ 0⤋
Whoever takes the property assumes the bills related to the property. Not just the payments, but any inheritance taxes that might be payable on them, too. If the estate is worthless, in Indiana what will happen is the executor will file a notice of insolvent estate with the court. The creditors then have a certain period of time to file any claims. Creditors with claims on specific items, like the car, will get first crack at that property, and the remaining creditors will divvy up the proceeds from the sale of the remaining property.
2006-07-24 14:37:39 · answer #2 · answered by cross-stitch kelly 7 · 0⤊ 0⤋
Nobody gets anything until the debts of the estate are settled. That would not include personal items, but would include anything of value (furniture, cars). It is up to the lien holders if they want to transfer payments to another party...but nobody gets to simply claim items that are unpaid for, they go back to the companies they were bought from. If the estate can't pay off any outstanding debts, then nobody does...the companies owed the money take a loss (and get to write it off on thier taxes).
2006-07-24 14:32:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
legally you have to return the furniture to the finance company or contact them tell them the situation and they'll deal with it. Most of them write it off as a loss then tell you to do what you want with it.
2006-07-24 14:25:53 · answer #4 · answered by ? 3 · 0⤊ 0⤋
hello u answered my question bout the girls clothes...can u email me at arodformvp13@yahoo.com so we can discuss further?please
2006-07-24 16:38:42 · answer #5 · answered by Mike C 1 · 0⤊ 0⤋