Legal Question in Credit and Debt Law in Virginia

My husband and I bought and titled a boat jointly with rights of suvivorship in Virginia.

My husband took out a loan to pay for the boat and the boat is collateral on that loan.

I just bacame aware that I am not on that boat loan. My husband died last July. The bank that holds the boat loan has continued to withdraw the monthly payments from our joint checking account.

Do I own the boat now without any obligation to the bank that holds the loan? Does the bank that holds the loan have to repay me the payments that they have taken from our joint checking account since my husband's death?

Asked on 12/13/09, 5:29 pm

1 Answer from Attorneys

Michael Hendrickson Law Office Michael E. Hendrickson

You're now responsible for the loan on the boat as its sole owner since your husband passed.

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Answered on 12/19/09, 8:02 am

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