wrote about lien on vechile and widow put vehicle her name, the paper she signed was to release the $2220.00 off of credit life and put towars vehicle payment
2006-09-11 14:45:39 · 5 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
WHAT?!
2006-09-11 14:47:35 · answer #1 · answered by day dreamin baby 5 · 0⤊ 0⤋
If your Mother had a lien against the widow's vehicle and then signed a Release of Lien, she essentially gave legal title of the vehicle back to the widow, in exchange for the $2220.00 from a "credit line"??? This is not a familiar practise, however, your Mother should immediately collect the $2220.00, otherwise she may have to pursue collection of the money by filing a Complaint with the Court to get her money. Generally, a Release of Lien is filed once the money owed is paid in full and at that time, then the Release is signed.
2006-09-11 14:53:02 · answer #2 · answered by JFAD 5 · 0⤊ 0⤋
All papers after the actual sale of the truck do not change ownership until the truck is paid off she cannot get clear title to the property. If it was not written into his will. Then truck would be income and taxable.Cash to the children is income too, unless it was gifted before his death. You have so many things that are going to happen do not sign anything with out attorney until his will is setteled. And ownership to all of his property assets as well as liabilitys is assigned.
2006-09-11 14:58:36 · answer #3 · answered by John Paul 7 · 0⤊ 0⤋
Sounds like she has directed this amount to be paid out her life insurance to cover the remaining balance owed on the car.
You guys need the services of a good probate lawyer to help you with all thees problems and questions.
2006-09-11 14:51:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Well it means she signed to pay for your car that's all
2006-09-11 14:51:54 · answer #5 · answered by sugarbdp1 6 · 0⤊ 0⤋