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The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.

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โˆ™ 2013-08-18 14:34:44
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Q: Can a car be repossessed if the owner dies before the first payment is due?
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What has to happen before a creditor can have your care repossessed?

A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment.


How many months delinquent must a mortgage loan be before the mortgage insurer contacts the home owner?

Typically, they will call the homeowner before the first payment is behind to remind the home owner that a payment is due. - VoyageHomeLoans


What research should one do before buying repossessed cars?

Before buying repossessed cars, you should first research the frequency of repair and maintenance costs on the models in auto-related consumer magazines. You can also ask for the car's maintenance records from the owner, dealer or repair shop.


If primary owner and cosigner have both their names on the title and primary doesn't pay the payments can you repossess the vehicle The title says or on it.?

If there are two individuals listed on the title of a vehicle as primary and joint, they are both responsible for the payment of the loan. If the primary defaults on the payment, the joint owner is responsible for payment. If both parties default, the vehicle can be repossessed.


What does repossession of car mean?

When a car is repossessed it usually means the owner is no longer able to make the payments. It is repossessed by the dealer or the bank in which to owner has the loan through.


What if your car was repossessed due to lack of insurance yet was insured at time of repossession?

Vehicles cannot legally be "repossessed" due to a lack of insurance. Re-possession can occur only when there is a default in the payment contract and the original owner (the lender) recovers their property from the defaulter.


How do i report a repossessed bike?

If it's repossessed, it's repossessed... there's nothing to report. As long as there's a lien on that vehicle, the lienholder is the rightful owner of it, and can reclaim their property.


What happens if the property you are renting becomes repossessed?

It depends on what the new owner plans to do with your unit. You can ask the current owner if he knows.


Can you be held responsible for repossessed car if co owner had possession of car?

yes you will be responsible.


Owner of car stole it back from repossession company?

If it was repossessed legally then he is guilty of theft


When is a repossession unlawful. my car has been repossessed 4 times in 2 months. each time before i can completely honor the agreement the dealer repose my car. i am making payments . and i do pay wh?

Payments must be paid on time when they are due. One must remember that it is not "your car" until it is fully paid for. Until then the outfit that lent you the money owns the legal title to the car. You are just the registered owner, not the legal owner. The legal owner has all rights to repossess the car anytime the payment is not made on time.


Can a lien be placed on a home if the owner owes a loan deficiency amount when a vehicle is repossessed?

Yes.


If car is repossessed does the owner have to still pay original cost of car?

In most cases YES


If you buy a motorcycle that has a lien on it from the Royal Bank of Canada through the previous owner can the bike be repossessed from you?

yes,


Who can stop payment of cheque?

Owner of Cheque and/or Bank


Do you have to pay the whole vehicle off if it is repossessed?

Once a car has been repossessed, you as the owner of the vehicle have the obligation to repay any amount still owed on the loan. Once a car is repossessed, it is often sold in a repossessed cars auction by the finance company. The amount which the car was sold for will be deducted from the total loan amount and then the difference will be owed by yourself. So yes you would have to pay the whole vehicle off if it was repossessed.


Is the owner responsible for any paperwork when voluntarily returning a repossessed vehicle to a dealer?

What state are you in??? Laws VARY by state.


Is the owner of the car responsible for any payments after it is repossessed?

As a rule, YES. Read the contract you signed for more info.


Who is responsible when your car is being repossessed in Pennsylvania?

The owner of the car (person(s)) who took the loan on the car are responsible


Why are car loans always secured with collaterals?

The car can always be repossessed if the owner stops paying off the loan.


Why are car loans always secured with collateral?

The car can always be repossessed if the owner stops paying off the loan.


How do you change ownership of a life insurance policy when insured is deceased?

Ownership cannot be changed after death. All rights and responsibilities of the owner of the policy end at death of the insured. At death, proceeds will be paid out to the beneficiary and if the method of payment was decided before death then payment is set as well. If payment method is not set then the beneficiary can decide how they want to received payment. There are many ways they can receive payment.


When a car is repossessed is the owner supposed to have been given a right to cure letter first?

Depends on which state you live in. Most states do not require a Right to Cure letter prior to repossession but a few of the states do.


Who is responsible for hail damage that happened while a car was repossessed?

The owner of the car listed on the insurance policy.


A car has been impound can the car be return to owner if a payment arrangement is made with parking tickets plan?

A car has been impounded , can the car be return to owner if a payment arrangement is made with parking authorities.