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Hi, I have a car that is owned by my father-in-law 89 years old who has passed away recently. The car is being financed and his name was listed on the title only.
My mother-in-law doesn't drive, I have to take her places. I"d like to have her name on the title and I would be on the insurance. She is paying for the car. My question is do i just need a death certificate and a notorized paper for the finace company to change the title. Hopefully my mother-in-law will sign the paper. If anyone knows please tell me. Thank you
Last edited by 2goldens; 12-21-2009 at 01:31 PM..
Reason: Moved from Other Topics
Hi, I have a car that is owned by my father-in-law 89 years old who has passed away recently. The car is being financed and his name was listed on the title only.
My mother-in-law doesn't drive, I have to take her places. I"d like to have her name on the title and I would be on the insurance. She is paying for the car. My question is do i just need a death certificate and a notorized paper for the finace company to change the title. Hopefully my mother-in-law will sign the paper. If anyone knows please tell me. Thank you
The executor of the will will have to authorize, or provide a notorized letter that the car was willed to her and for the vehicle to be signed over to you or your mother. If there is an outstanding loan on the car in your father in law's name, typically it will have to be refinanced into the new owners name. So, the old loan is payed off. If his estate was willed to be equally shared by a number of people, your mother in law will have to get a signed letter from each person listed that they do not want a piece of the profit or ownership of the car or she will have to pay them a portion to 'buy them out.' In most cases this is what happens to a home when someone dies and one wants to live in and own it.
Thank you for answering, unfortunatley there is no will, what would I need to do. The car is a 2008 but was bought this year and still financing it.
If there is no will, the assets automatically go to the next of kin which would be her as long as they were still married when he passed away. A change of title still needs to take place and in order to do that the old loan needs to be paid and a new one taken out. I would run this past an estate attorney with a quick letter or call the title bureau and ask them what documentation you need to make sure. Since a signature on the title transfer is needed and you don't have one then, yes, a death certificate is probably what you need - but call them and find out. If you are driving it under his name and insurance - the insurance is void and you could get hit with a ton if you got into an accident. Call the insurance company too to find out what they need to do in the meantime and the loan company they may just change the name and continue to allow you to make payments on the existing loan.
You need to have a bill of sale written up showing she has sold her car to you. She can continue to pay the finance company as you pay her; unless you can or want to get the loan in your name? The title should be changed to your name, it will make matter easier in the years to come should anything happen. There’s no reason for her to become legally liable for issues that are out of her control should things occur later on. Protect yourself and her legally by having as much of this in your name as possible.
Thursday007 is correct, “work this out with the executor and/or an attorney for everyone’s benefit. And if you’re insured but the car is registered in a different area (city or state) you may not be covered should an accident occur, they like to void their responsibilities if they don’t have to payoff in an accident.
I'll have to check with a title bureau, or get a lawyer to handle this, I'm getting ready to change the insurance. It had both there names on the insurance but the car is still owned by a deceased person. I thousght the insurance would be a void. Also the finance company said I would need to go to a family court and get a probate. I might just get a lawyer. Thank you for your help.
I'm not able to finance the car if anything I'll just have her return the car and she loses the money and no transportation. We'll see, something will get worked out.
Check with your father-in-law's Loan Company and see if they have a rider on the policy that would “pay off” the loan at time of death! This is something that I’ve seen and used myself in years past in case of death my wife would not be burdened with the payments.
They may have other insurance policies that also cover "loans" being paid off at time of death,,,,,, check for those as well. I have an umbrella homeowners policy that covers many other things besides just the house insurance.
Thank you thursday007 and aksarben for pointing me in the right and informative direction ,so I can take action on this. Just wanted say I got in touch with a family lawyer and hoped to have it resolved soon. I just need the death certificate and a notarized affidavit. Thank you again for your help.
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important "paid in full at time of death"
