Legal Question in Wills and Trusts in Pennsylvania
Death of a vehicle owner with a loan.that was willed to me.
Asked on 9/19/11, 4:38 pm
1 Answer from Attorneys
What are you asking? If the vehicle had a loan on it and the owner died, the beneficiary takes subject to the loan unless the will directed the personal representative to pay off the loan first.
If there is nothing in the will, then you would have to see what the vehicle is worth and ascertain how much is still owed. If very little is owed, you may want to have the personal representative transfer title to you and pay off the loan and keep the vehicle. If the vehicle is worth less than what is owed, you might want to allow the personal representative to tell the finance company to come and get the car.
Answered on 9/19/11, 9:53 pm