Legal Question in Wills and Trusts in California

Probate/car loan

Father just died. I'm only heir. Small estate...bank account, maybe 1 or 2 cd's totaling $40K. No other assets. Car purchase loan with payoff way above value of car. Finance mgr at selling dealer says to tell Honda to take car back and they don't go after estate for difference between what car is sold for and payoff. 1. Do you believe this is valid? 2. Would an estate of this size with few assets be required to go through probate?

If so, wouldn't the probate court make sure all creditors are paid?


Asked on 1/13/09, 11:20 pm

1 Answer from Attorneys

Re: Probate/car loan

I am sorry for your loss. It probably does not have to go through probate. Technically you would be liable to on the car loan deficiency but I doubt they would go after you for it. Highly unlikely they would start probate and go after you. You thus should hire an attorney to help do the small estate affidavits to get the assets transferred to you and help facilitate a transfer of the car back to Honda. Good luck! -John

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Answered on 1/14/09, 10:58 am


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