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Loren
Loren, Attorney
Category: Estate Law
Satisfied Customers: 21455
Experience:  30 years experience in the practice of estate law.
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my father cosigned on a car loan for his girlfriends granddaughter

Customer Question

my father cosigned on a car loan for his girlfriend's granddaughter in 2009. He died in 2012. Last week I received an affidavit to assign the title to her and she wants me and my brother to sign off on her car as his heirs. This was all a big surprise. I asked for a copy of the loan agreement and payment history. She will only give us redacted copies. Should we sign the paper? We'd really like to know if my father made the down payment or any payments on the car.
Submitted: 1 year ago.
Category: Estate Law
Expert:  Loren replied 1 year ago.
Thank you for using JustAnswer. I am JudgeLaw and I will do whatever I can to answer your question and provide you excellent service.

Before we begin, a bit more detail wold be helpful please.

Is your late father's name on the title?

Have you seen a copy of the title?

Has the loan been released? The title would have no lien if it was released.

Thank you.

JudgeLaw
Customer: replied 1 year ago.

I don't know if his name is XXXXX XXXXX title. I have never seen the title. My father passed away a year and a half ago and this is the first my brother and I are hearing of any of this. She sent a redacted copy of the loan agreement and a payment history that begins when my father died, not before. So we are in the dark here. She wants us to sign a NC dept of transportation affidavit of authority to assign title to her.she has filled everything out and this is what line 7 says: That the heirs hereby assign interest in said vehicle to and then her name. So....I don't know anything else.

Expert:  Loren replied 1 year ago.
Thank you for the additional information.

My condolences on your father's passing. I am sorry to hear of your dilemma. I realize how frustrating this is for you, but I believe I have information which you will find helpful.

Actually, no decision can be made without a copy of the title. The fact that they need your signature would seem to indicate that your late father had an ownership interest in the car. As such, his interest is an asset ofnthe estate. If so, the estate is entitled to payment for its share of the equity in the car.

Now, it may be that you decide to go ahead and sign the car over to the girl, but you (or whomever is the representative of the estate) owe it to the hiers to ascertain the interest you are being asked to waive.

Therefore, demand to see a copy of the title and the entire payment history if the loan before any decision is made.


Customer: replied 1 year ago.

why would we have to sign an affidavit to assign title to her if he just cosigned a loan? I just don't understand why we're heirs if he just lent her his good credit score? Why wouldn't she just need his death certificate? If he owns the car could we be taxed on inheriting it? Are these too many questions?

Expert:  Loren replied 1 year ago.
Thank you for the additional information.

You would not have to sign anything if he was a only a cosignor. That is why I suspect he is on the title.

You would not be taxed for inheriting it unless you are in a state with an inheritance tax and it surpassed the statutory exemption. Otherwise, as an asset of the estate, the estate would be liable for any federal/state estate taxes.

Thisn is why you need more information.

Thank you.

JudgeLaw
Customer: replied 1 year ago.

Thank you so much. I have just one more thing to ask. My brother and I have no interest in this car. I just want to know the truth. She is defensive. The paperwork had more blacked out lines than a pentagon war document! When I asked her for an unredacted copy of the loan agreement and full payment history she says her bank wants nothing to do with this and all I can get from her are the redacted copies. Why would a bank want nothing to do with this? I don't know what she'll do when I tell her I want a copy of the title too! Oh and by the way, I am not in NC I'm in Georgia. I wouldn't want even an unseen person on the internet thinking I live in that state. Unless you do and then this is awkward. :)

Expert:  Loren replied 1 year ago.
No worries. I am in Illinois!

You have every right to know the truth from this girl. She is asking you for a favor not the other way around. You can just say no until you are provided the information you need (and you do need the information). The bank would not care about providing a copy of the loan information.

The girl needs to be forthright about this if she expects your cooperation.

Thank you.

JudgeLaw
Customer: replied 1 year ago.

Thank you so much JudgeLaw. You have no idea how much this helps us. And just so you know, I never pronounce the s on the end of Illinois.

Susannah Black

Expert:  Loren replied 1 year ago.
You are very welcome. I am happy to have been of service to you and hope you found that service no less than excellent.

Thank you.

JudgeLaw

If you have not already do so, please remember to leave a favorable rating so that I am paid for assisting you.

PS: Thank you Susannah. I like you style!
Loren, Attorney
Category: Estate Law
Satisfied Customers: 21455
Experience: 30 years experience in the practice of estate law.
Loren and 3 other Estate Law Specialists are ready to help you
Expert:  Loren replied 1 year ago.
Thank you, Susannah, for your positive rating of my service to you. Let me know if you need more help or have future questions. I will be here for you. Just ask for me by name at the start of your question - "JudgeLaw" or use the following link (which you can bookmark in your browser):  http://www.justanswer.com/law/expert-JudgeLaw/
   

Best wishes and good luck to you.

If it is not too much trouble, when you receive a Customer Satisfaction Survey from JA/Pearl in a day or two, please do rate me highly (9 or 10). It affects my ability to continue to assist you and other customers on JA/Pearl and would be most appreciated.

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Loren
Loren
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30 years experience in the practice of estate law.