Legal Question in Consumer Law in Iowa
Car loan of a deceased person
My father-in-law just passed away. Less than a month ago he bought a truck. The was able to get the loan in his name only. Will my mother-in-law be responsible for that debt?
Asked on 11/11/08, 11:45 am
1 Answer from Attorneys
Thomas Moens
Moens Law Offices, Chartered
Re: Car loan of a deceased person
No, she should not be responsible for the debt. But, she will not be able to just keep the truck without paying the loan. She can let it go back to the bank, pay off the loan and keep the truck, or sell the truck pay off the loan and keep the difference between what the truck is worth and what is owed.
Answered on 11/14/08, 4:07 pm
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