unless his will states otherwise you inherit all of his property and debt. that includes, loans.
There will be different requirements depending on the state you live in. In California, the next of kin can affect a change of title on a car owned by a person deceased.
IF you transfer the title and loan out of your name you are not responsible. IF NOT, and they don't make the payments, or have insurance on it, YOU are responsible for all aspects of the vehicle as you still OWN it. the name on the title & loan is the responsible party.
title company
Technically, no you cannot. The loan was to the deceased, not to you. You also have to change the title of the vehicle.
The estate is responsible for the loan. If it is not paid the bank will take the property.
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.
Your cosigner is listed on your title because they are legally responsible for the loan if you are unable to make payments. This provides the lender with added security and ensures that the loan will be repaid.
No, a co-signer is not listed on the title of the car. They are responsible for the loan if the primary borrower fails to make payments, but they do not have ownership rights to the vehicle.
In Ohio (I'm not sure about other jurisdictions), you can transfer the title of 2 vehicles with just an affidavit & the title; you don't have to open and estate with the probate court (that's if the death was AFTER 1996. Prior to 1996, you could only transfer 1 vehicle with no probate).
Your cosigner is listed on your car title because they are legally responsible for the loan if you are unable to make payments. This provides the lender with added security and ensures that the loan will be repaid.
This depends on the wording of the title. If the names on the title is listed as John Doe and Jane Doe, yes you need both signatures, unless he is deceased. If the names are listed John Doe and or Jane Doe then no you don't need his signature.
What happen if i donate my car to my cousin and i sign the title. is that all i have to do?