Legal Question in Credit and Debt Law in Michigan
Car note and Title
My husband purchased a auto and the auto is financed just in his name only, and the title is in his name only. He has passed away.The finance company told me it would be a voluntary repo to give it back to them. I don't want the vehicle. What is my role in all this?
2 Answers from Attorneys
Re: Car note and Title
Spouses are not liable for the other spouse's debt in Michigan. Has a probate estate been opened? Theoretically that car would be your property now. So, depending on your situation, it would probably be OK to release the car back to the finance company. You should consult with an attorney in more detail.
Re: Car note and Title
In addition to that which Mr. Collins advised, you should consider that repossession does not necessarily relinquish the debt associated with the property. For example, the car could be repossessed and sold with a balance remaining on the debt. Then the remainder of the balance owed on the note would come out of estate assets and this could mean any assets which you own jointly with your husband.
In order to protect your assets, you could sell the car yourself and pay the note. In this fashion you have control over the sale and the sale price.
If you would like further information, please contact me via my website at www.lawrefs.com.
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