Legal Question in Wills and Trusts in New Jersey

Re: vehicle ownership

You do not say what is involved in your aunt's estate, how it is distributable or who is entitled to share in it. I partially agree with John, but also disagree. The debt is your aunt's and is an obligation of her estate. If it is unpaid, the finance company has the right to levy and foreclose. You may have the right to refinance it through the finance company or elsewhere if your credit has been restored. If your aunt's estate is large enough to pay off the loan, you might want to consider making a deal with the executor of her estate to allow you to substitute the estate for the finance company (let the estate finance you). More information is needed to give you a better answer, and this includes information about your aunt's estate. This reply is not intended to establish an attorney-client relationship and is provided purely as a response to an internet question.

Re: vehicle ownership

This is one of those situations where there are actually clear answers:

1. The finance company is within its rights to require immediate, full payment. After all, your grandmother was the person with the loan.

2. You don't have to pay for the car. Additionally, you should not make further payments for the car unless you buy it from the finance company. The company would have to consent to the sale.

3. The finance company would be foolish not to sell the car to you if you offer as much as they would have gotten by foreclosing against your grandmother's estate. That doesn't guarantee that they will do it, it just points to the importance of speaking with someone at the company who understands finance if you intend to make an offer.

If you can make a deal, it would be worth your while to have a lawyer check it over before you sign anything.