When someone dies, and a car (that is not yet paid off) is left to family members, what happens? Does the loan automatically change to the repsonsiblity of the heirs, or must the family members get their own loan and pay off the deceased's loan? And how do you go about switching everything over to the new owner? Please HELP!
2006-09-12 13:47:54 · 9 answers · asked by Cbear 1 in Cars & Transportation ➔ Insurance & Registration
If the deceased assigned an executor to handle their affairs after their death then that would be the person. They would need many copies of the death certificate and effect the will in probate court. Afterwards, they can dispense any assets (including cars) through the estate. Changing the name to a new owner would then be easy.
If the deceased was a minor, the surviving parents would handle it.
2006-09-12 13:53:45 · answer #1 · answered by J.D. 6 · 0⤊ 0⤋
If the deceased did not leave a will giving this posession to them, then it would depend on the laws in our city, municipality. If there is a loan on the vehicle, probably be able to request to purchase the vehicle, but if you were left as heir, then you would be responsible to pay for it, take over the loan or get it foreclosed. This is not legal advice. Just an educated guess. Look into local laws and see if the deceased left a will.
2006-09-12 13:59:39 · answer #2 · answered by Cammi 3 · 0⤊ 0⤋
It would become the responsibility of the new owner of the vehicle or would be paid off by the deceased estate.
As said above, Talk to your attorney handling the case.
2006-09-12 13:55:18 · answer #3 · answered by Dave 2 · 0⤊ 0⤋
A loan is not assumable. Entire amount is due upon death or the vehicle reverts to ownership (bank). Probate lawyer will be very helpful when dealing with any estate problems -- well worth the money.
2006-09-12 17:14:09 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The Estate owes the full amount on death, and the lien survivies if it is not paid. Im certain they would allow a family member to assume the payments if at all practical
2006-09-12 14:05:39 · answer #5 · answered by Anonymous · 0⤊ 0⤋
No, the babies, no remember if grownup or no longer, are no longer individually to blame for their parent's money owed, no remember if deceased or no longer. the only exception is that if the grownup babies co-signed for the parent's loans/money owed. bill creditors are interior the employer of gathering charges, and that they're going to say and do very almost something to get the money.
2016-11-07 05:08:50 · answer #6 · answered by ? 4 · 0⤊ 0⤋
If I was you I would just call an attourney and ask them to know that your doing the right thing. They don't charge to sit and advise over the phone.
2006-09-12 13:56:40 · answer #7 · answered by weasel 2 · 0⤊ 0⤋
you need to ask these questions to the probate attorney handling the case
2006-09-12 13:53:30 · answer #8 · answered by Mopar Muscle Gal 7 · 0⤊ 0⤋
The beneficiary would be responsible to either pay it or sell it.
2006-09-12 13:53:16 · answer #9 · answered by First Lady 7 · 0⤊ 0⤋