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Who is responsible for your car loan if you die?

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2007-01-09 17:35:50
2007-01-09 17:35:50

The estate is responsible for settling the debts and accounts of the individual. It may be to the best interest of the estate to sell the vehicle and pay off the loan, or even allow the loan holder to reposses the vehicle. The executor of the estate will have to document and receive court permission regardless of what is done.

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

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The stepson should be the one responsible for the car loan. If your husband cosigned on the car loan, then you need to contact an attorney on this one.

Typically for the duration of the loan.

What is your agreement with him? Legally he is responsible for the loan. As to the car, which is in your name, you obviously are the owner. You are responsible for all maintenance on the car.Technically that is illegal to begin with. The motor vehicle division in your state is supposed to have the same owner name on the title as the name the loan (or lien) is filed under. Is there actually a lien filed on the vehicle? If so and motor vehicles finds this discrepancy, there could be big problems. In a situation like this, then as for who is responsible - well that depends on what you mean by "who is responsible" for the car. The person on the loan is responsible for the loan payments. As for other aspects of who is responsible - you would have to be a little more specific.

Nobody is responsible for the loan if there was on cosigner. If the car was inherited by someone, then that person has a right to pay the debt owed and take possession of the title.

If responsible for the loan- yes.If responsible for the loan- yes.If responsible for the loan- yes.If responsible for the loan- yes.

No. The co-signer will be responsible for paying the loan until it is paid off.No. The co-signer will be responsible for paying the loan until it is paid off.No. The co-signer will be responsible for paying the loan until it is paid off.No. The co-signer will be responsible for paying the loan until it is paid off.

The car goes back regardless. If BOTH of the two people are on the loan, then BOTH are responsible. But if only one is on the loan then ONLY that person is reponsible.

The estate has to resolve the loan, either through selling the car or returning it to the lender.

IF your name is on the LOAN papers, you are the co-signor and responsible for paying the loan if the debtor doesnt.

The estate is responsible for the loan. If the spouse wants to keep the car, they may have to assume the loan, if the bank allows them to. Otherwise the vehicle may have to be sold.

Yes he/she is just as responsible for the loan as the signor of the loan.

If the loan company approves. If the loan company does not approve and transfer the loan you would still be legally responsible for the debt.

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The estate has to resolve all debts. If there are co-signers to the car loan, they may be held accountable. If there are not enough assets to pay off the loan, the car will have to be sold.

Yes. If you signed the loan, you are still legally responsible for it.

Yes, but you are responsible for that loan until paid or transferred.

Then you are responsible for the payment if she misses a payment.

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both of you you- for loaning your car to an idiot the driver- for choosing to drink and drive

Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not.Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not.Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not.Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not.


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