Legal Question in Wills and Trusts in Virginia
Probate question
My father passed away about a month ago. The vehicle they drove was titled in his name only and the loan is financed in his name only as well. The finance company has demanded payment in full from my Mom within 10 days or they will repossess the vehicle. Does she have any rights of survivorship as far as taking over the loan or transferring it to her name? Everything was left to her in the will, per se, so she'd like to just continue to pay the loan payments. She resides in Virginia.
Thanks.!
1 Answer from Attorneys
Re: Probate question
Your mother (or her representative)should contact the finance company and explain to them that she would like to assume responsibility for the vehicle loan and to continue making the monthly payments just as her now deceased husband had done.
However, as far as I am aware, she has no "rights of survivorship" in this kind of situation that would make her request legally compelling to the loan company, but given the general downturn in the vehicle market in recent months, they should be more than willing to accommodate such a request.
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