If my father purchased a truck prior to his death and someone else co-signed, does the co-signer now take possession?
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If my father purchased a truck prior to his death and someone else co-signed, does the co-signer now take possession?
The co-signer does not have possession of the vehicle. There is still an open loan on the truck. What do we have to do to get this settled?
Asked on May 22, 2014 under Estate Planning, Pennsylvania
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
If the co-signer is not on title to the truck then he or she has no right to possess the vehicle. The way to resolve the matter is to either sell the truck and pay off the loan, pay off the loan or refinance the vehicle so that the co-signer is not obligated on the loan.
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