Legal Question in Wills and Trusts in California
My boyfriend's father passed away recently and we have not been able to find a will. He owed about $10k left on a Corvette he'd told his son he'd planned to pass onto him... without a will, and the fact that he still owes on the Corvette's lien-holder, not to mention approx. $30-40k in credit debt (he owned no property) - what can be done about acquiring the vehicle / transferring title / paying off the lien-holder - - or will the probate court eventually cease the vehicle?
2 Answers from Attorneys
The probate court will "cease" the vehicle? You mean, like, have it crushed into a coffee-table-sized lump of scrap metal? I don't think so. The lienholder will repo the vehicle. I would contact the lienholder right away and offer to purchase the note. Then, you repossess the vehicle.
It sounds like his father owed more than the value of the assets he had, car included. If so, Mr. Stone's idea MIGHT work. Otherwise the car will be sold to pay the creditors.
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