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Can a car be taken away from you if the original owner passed away and your still making the payments?
Wiki User
∙ 13y ago
Maybe. It depends on the loaner. The car probably won't be repossessed strictly due to the fact the person who signed for the car passed away. If the payments are still being made, regardless of who is paying them, they aren't going to take the car. But, if you're paying for it, and the car becomes paid off, it will be in the deceased persons name, not yours. So the car won't belong to you, unless your name is on the title, or if you inherit it, either through default, or through the persons will.
In this case you would have to contact the lien holder of the car and explain the situation (The lien holder is the true owner of the car). After that it's really up to them whether they want to negotiate a contract with the person paying for the vehicle, and that would depend on one or more things. Like your connection to the person, your credit, what it says on the actual signed document when the car was purchased, etc...
You might want to check the persons will also, if they have one. If the deceased person intended to pay the car off before their unexpected death, and they want to give the car to someone else after the car is legally theirs, it won't matter if you have been making the payments, the car will go to whoever the person entrusted the car too. So you could be out of a lot of money if you're the one making payments on the car. Also, if the lien holder does decide to take the car, the odds of you getting the money you paid back are slim to none.
Wiki User
∙ 13y ago
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both owner cosigners credit will be affected both owner cosigners credit will be affected
Can a cosigner repossess a car if the primary borrower stops making payments?
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Forclouser how long does it stay on rereal estate invester owner of 2 investment and one primarry home. can you foreclose one and keep making payments on the others how about if you have an helloc too?
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What do you do if you owner financed a home and now the owner is not making payments and the mortgage company is going to foreclose?
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Is it legal to sell a car to someone making payments to me?
Yes you can sell it and even have it registered to the new owner, but the lien will remain on the vehicle until its paid. The new owner can make payments to you but if they fall behind it will land on your shoulders. The best bet is to have the new owner pay you the amount of the loan upfront as payment for the car, therefore you pay your loan and they buy their car.
Is it legal for a co-owner to take the car from the primary owner if car is not paid for in full?
If you are the only person making payments on a car and you are the primary owner. If the co-signer takes the car and will not give you the car back is there any way to get the car back in your possesion?
Who is the original owner of the invisibility clock in Harry potter?
Death was the original owner.
