Legal Question in Credit and Debt Law in Texas

Executor of estate - car note of deceased

Hello, and thank you for any help in answering my question(s). My father passed away and he had a trust directive as well as a will naming me as executor to be able to act on his behalf on transacting the disposition of his assets. He had a relatively new car (2007) that still has a remaining loan balance. My siblings and I do not want the car and one of our options given to us was to surrender the vehicle. The car company implied that we could give the car back; but, now they're saying that they will auction off the car and I will be responsible for the remaining balance afterwards. Is this legal and am I really responsible for this? Will my credit be affected even if the title wasn't in my name? Are there any other options other than assumption or payoff? Thanks again for any help.


Asked on 1/23/08, 11:05 pm

1 Answer from Attorneys
Sharon Campbell Sharon K. Campbell

Re: Executor of estate - car note of deceased

No, you as the executor, are not individually liable for the debts of your father. If there are any assets in the estate, the finance company may file a claim against the estate.

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Answered on 1/23/08, 11:18 pm


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