Legal Question in Wills and Trusts in Virginia

Father bought a car for us with a loan from his bank. He passed early this year and the only thing left unresolved is the remaining loan AMT which I'd like to pay off but bank has a lien on it from another line of credit he had. This would total to be more than the value of the car. I'd like the loc AMT to be handled separately as his other debt had been by his wife. Is there any hope that we can keep the car for just the loan AMT or shall I just use it until probate is over and it's repo'd. Thanks for your help.


Asked on 5/15/14, 8:27 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Contact the lender and see what can be negotiated to settle this matter that would allow you to take title to the vehicle in return for paying off the amount that is still owed on it. (You may need to work through the executor of the estate in order to disentangle what is owed on the car from the rest of the debt arising from the other line of credit.)

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Answered on 5/15/14, 9:08 pm


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