Legal Question in Family Law in Pennsylvania
personal debt or not
My father had passed away in sept and we all know that money makes people crazy.Three years ago my dad co-signed my jeep. My sisters and brother had my dad write up a new will and it has if any personal dept is owed to my dad that it would be taken from my part of the estate. I did not owe my dad any money I pay the jeep payments my self. My family is telling me that my jeep is a personal loan and what ever money is coming to me I have to pay it off, if not they are going to take it and put it in the estate ? which Idon't understand that part. Is this true
1 Answer from Attorneys
Re: personal debt or not
You asked about a co-signers to your debt.
A co-signer to a loan owes the debt to the creditor only if the primary defaults. A co-signor does not himself make a loan to the debtor.
In most cases the death of a co-signor makes no difference to a loan. The loan remains a debt of the primary. In some cases the contract may require that the loan be paid off on the death of the co-signor.
If your relatives do not do a proper and accurate accounting of the estate then you should charge them both civilly and criminally. If the estate pays off the loan from the proceeds apportioned to you then that will actually be a savings because you will not be taxed on what you did not receive.
You have my condolences on th loss of your family (and also for having dicks as siblings).
Regards,
Roger
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