The answer depends on how the lease is written. If the lease payments stop then the company can choose to repossess the vehicle. If the family of the deceased and the company can reach an agreement then the family could take over the lease if all parties agree. as a death is involved an attorney may need to be involved.
Even leased cars must be registered to the leasee. You must go to your local department of motor vehicles to have your vehicle registered.
The leasee is responsible, unless the vehicle is still under warranty and the problem is covered under said warranty
First of all it would not be possible to be on the title of a leased vehicle, as the leasor retains ownership rights. A cosigner is only responsible for the debt if the primary borrower defaults on the lending agreement.
Not really. There is no residual value assigned to the leasee, so there is nothing to foreclose on. At the end of the lease you have nothing.
Yes, a leased vehicle is considered an asset because it has value and can be used to generate future economic benefits.
why not.
No They Cannot.
leasee
because when you buy it, it's yours. when you lease it, you give it back to the leasee. In the latter case you are just paying for the opportunity to use the vehicle.
Leasee
the person the vehicle was leased to is responsible as they are the ones that have caused the vehicle to need to be repossessed.
Purchase a Car Fax report.