How do you trade-in a car that is in a deceased person's name?
Question Details:
I have been making payments for 4 years on a car that my father put in his name because his credit was better then mine or my wife's. 5 months ago he passed away. There is $4,000 left on the loan and my wife and I need a new van. My mother has power of attorney and there are no problems there. I want to trade it in but I would assume that I need to have that car put in my name. What is the best way to do this? Is it easier since my mom has power of attorney to put it in her name and we can trade it from there? I still have bad credit otherwise I would just assume the loan.
I'm sorry about your father's death. A power of attorney ceases at the time the person who granted it dies. Therefore, it would be unlawful for your mother to use the Power of Attorney. However, most states have small estate procedures which you could use to transfer the car to your name. I suggest you look here: http://www.dot3.state.pa.us/pdotforms/mv_forms/mv-39.pdf
Take a look at page 5 "vehicle owned solely by the deceased".
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney in your own state for individual advice regarding your particular situation.
