Legal Question in Wills and Trusts in Maryland
My father died and owned several cars in his name. A few of the cars still have a lein on them. Do the cars with the lein have to go into the estate or can we just settle with he bank on these cars?
1 Answer from Attorneys
May peace be with you during this time. If an automobile has no inherent value to the beneficiaries of the estate you could allow the vehicle to become the property of a lien holder through a no value or nominal transfer. This involves acceptance with no further claim by the lien holder, waiver of claim by beneficiaries and valuation. There may be other fact based matters presented during probate administration that are pertinent to this specific question. Probate administration presents matters that are not be obvious. I am available to assist you and/or the executor and can be reached at my office 410.750.2567.
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