Legal Question in Wills and Trusts in Texas

Transferring open auto loan

If the exectutor of Estate writes a written letter to the auto finance company. Can a 3rd party who has been paying and driving the vehicle since the inception of the auto loan be transfer into the loan.

Does the law allow 3rd party to be added to the loan with this letter from the executor of Estate?


Asked on 1/30/09, 12:52 pm

2 Answers from Attorneys
Donald McLeaish McLeaish&Associates;, P.C.

Re: Transferring open auto loan

kThe lender has to accept a new borrower...

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Answered on 1/30/09, 12:59 pm
Cheryl Rivera Smith The Smith Law Firm

Re: Transferring open auto loan

Not to my knowledge. Assumption would require an express intent to assume responsibility that comes from the 3rd party.

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Answered on 1/30/09, 1:36 pm


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