When the loan company sells a deceased person's car but doesn't cover the amount of the loan is the estate responsible for the balance?
Yes, but it does depend on what Country you are in!
Will surviving children of deceased parents that have no life insurance or estate be responsible for paying criminal fines or utility bills incurred by the decedents?
Yes and no. Items that are in the deceased persons name can be held in probate. If the car has an outstanding lien, it will just be repossessed if it is not paid off, but if there is a will and the car is left to a person, that person will be responsible for the balance of the loan. If the car is paid off, it can and will be held in probate until the…
If your father and stepmother are both deceased and left their home to you and your siblings are you responsible for the mortgage or foreclosure of the property?
Because the property was not owned outright by the deceased persons being willed the property are responsible for the debt attached as well. If they do not want to take the financial responsibility of paying the debt or selling the property they can allow it to be included in the probate procedure and therefore are not responsible for foreclosure or other litigation connected to it. yes, you are responsible otherwise you lose the house you…
In the Uk, it is not always necessary to prove a will. It depends if the deceased persons was a property owner or if any institutions hold the deceased persons assets and how much they are. For example if a person made a will and did not have a house and only had three thousand pounds in a bank it would not be necessary to prove his or her will.
Debtors MAY have a legitimate claim against the deceased persons. However they must file their claim against the ESTATE(s) of the deceased persons, not against any particular individual. Unless someone who is still alive co-signed a note or a loan, the creditors have no other claim on anyone, or anything, except the estate that the deceased left behind.
The property (including a car) of a deceased person is called the person's "estate". If the person has left a will then the person appointed in the will to "execute" the person's wishes (as set out in the will) is responsible for passing title of the car to the person it has been left to. If there is no will then the laws of your country/state will appoint someone to administer the estate and to…
Do children of a deceased person have any rights to the deceased persons parent's estate if the deceased person preceded the parent in death?
Who is responsible if a 16-year-old driving someone else's car hit and severely damaged your vehicle which was legally parked?
It depends.... If the girl that hit your car has car insurance that covers her while driving another persons vehicle, go after her and her insurance company. But if not, go after the owner of the vehicle, they are responsible for the vehicle at all times. The insurance company doesnt care who is driving.
A will can be read at anytime after a persons death, in fact wills have to be looked at very soon after death in case any instructions have been left in the will that may relate to the deceased persons funeral arrangements. Although a will can be read immediately upon death, any disbursements from the will cannot be made until a period of six months has elapsed. (In the UK). This is to allow for…
Is it legal to keep utilities on in deceased persons name and not pay even if this person was not married to the deceased?
A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. As in a corporation the debts are limited to the company (a fictitious business entity) and cannot be passed on to the ultimate individual owners (usually real individual persons).
If you are at fault in an auto accident do you have to pay the other persons deductible and my vehicle had already been damaged?
An Insurance company cant commit suicide. So, I am not sure what you are trying to ask here. If you are asking about, what would happen if the insurance policy holder commits suicide? In that case too, nothing will happen. The insurance company will not pay any money to the deceased persons family. Insurance claims can be made only if death occurs by accident or natural causes. Not suicide.
A Letter of Administration in the UK is a document issued by the High Court (via the Probate Registry) that empowers an appointed person or persons to collect and distribute a deceased persons assets. Applying for a letter of Administration is the process when somebody dies without a will. If the deceased left a valid will you would apply for a Grant of Probate instead. The procedure is practically the same.