Legal Question in Wills and Trusts in Florida

My mother just passed away. She has a car she was paying a bank or loan company for. I am her sole beneficiary and I don't want the car. Can I return it to the creditor with proof of death? I've read that they will sell it at auction and if they can't get what's owed, may pursue taking the difference from her estate or other assets.

Please any advice. Thanks, KJ.

Asked on 9/18/13, 5:26 pm

3 Answers from Attorneys

0 users found helpful
0 attorneys agreed

I am sorry to hear of your loss. To answer your question, as long as she is the only one on the promissory note for the loan, no one will be liable to pay. The lien holder (bank) can go after the estate but the estate would need to go through probate and creditors get paid in a certain order (e.g., funeral expenses, attorney fees, and medical expenses will be paid before the car loan). To assist with any probate needs, contact an attorney who handles probate administrations.

Read more
9/18/13, 5:50 pm
David Slater David P. Slater, Esq.
0 users found helpful
0 attorneys agreed

Return it.

Read more
9/18/13, 6:38 pm
Barry Stein De Cardenas, Freixas, Stein & Zachary
0 users found helpful
0 attorneys agreed

If there is an Estate then list the asset and get it transferred. You can sell it as part of the Estate and pay off the loan. If not enough then as per Mr. Coenson, the remaining debet gets paid as per Statute. Sorry for your loss. It is usually better economically to sell the vehicle yourself to protect the other assets in the Estate, if any.

Read more
9/19/13, 1:33 am

Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Florida

Looking for something else?

Get Free Legal Advice

8822 active attorneys ready to answer your legal questions today.

Probate, Trusts, Wills & Estates Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Phillip D. Wheeler, Esq.Phillip D. Wheeler, Attorney At LawMorro Bay, CA
Terry A. NelsonNelson & LawlessRiverside, San Bernardino, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now