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My grandfather is the sole owner of the car loan he signed for me, he left credit card debt behind as well can I keep the car?
Oak Lawn, IL
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Posted about 1 month ago in Debt / Lending Agreements
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Can I keep the car without being responsible for his debt? Creditors are looking for payment and have mentioned probate I'm very confused as to what that is and what my options are. I want to keep my car not his debt. Is the car considered an estate and can they take the car or will this fall on my grandmother his wife? Please help
Answers (1)
Andrew D. Richards
This attorney is licensed in Dist. of Columbia and 1 other state.
Posted about 1 month ago.
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Your question says your grandfather was the owner of the car LOAN. Who owns the CAR? Is the loan creditor shown as a lien holder on the Car Title? Who has the car title? If Grandpa owns the car, it is probably part of his estate and probably subject to (all) his creditors. If YOU own the car, you may be able to keep it if you pay the car loan off. It should not be part of credit card indebtedness. You need to seek the advice of a qualified, experienced Probate attorney.
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