Legal Question in Wills and Trusts in Ohio
My Grandfather died without leaving a will how do we settle his property
Hello,
My grandfather died without leaving a will. There isn't any argument over his property between family. However, he did leave a luxury vehicle which still has a small lien amount left on it. The car has about $2,500 left to be paid on it and my grandfather paid about $19,000 in cash up front for the vehicle. My grandmother who was/is still married to my grandfather at the time of his death wants to take over the payments for the car. How can we ensure that the vehicle isn't repossessed by the finance company and resold? We know we have to pay the remaining balance and prefer to take over the monthly $155 payments. My grandmother is not on the finance agreement. Only my grandfathers name appears. My grandmother now lives in Virginia. The car was purchased in Ohio if that makes any difference. Basically, we want to ensure that the finance company can't just take the car back and resell it and make almost the same amount of money again for it. Ideally, we'd like to have it registered in either my grandmothers or my grandmother and grandfathers eldest daughters name. Pay it off within the next year and sell it to afford my grandmother a better retirement/lifestyle. Thank you in advance for any assistance!
1 Answer from Attorneys
Re: My Grandfather died without leaving a will how do we settle his property
The finance company is entitled to the balance in full now as a result of your grandfather's death, but not the car unless it is not paid for. You need to pay off the car, or arrange a sale if you can't come up with the money. Your grandmother is entitled to the car just by filing an affidavit once it is paid off.
If you do not advise the finance company of your grandfather's death and just keep making the payments, the time will come where you can no longer get new license plates
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