What would happen if a car was in both of your parents names and one of them died?

tentoes

They are co-owners. So long as the payments are still getting paid on time, they really wouldn't care if your dad died.

Sorry for you loss, BTW

IG64

Uh... it really doesn't matter to the finance company if the payments are still being made... they could care less.... NOW as for possible problems... the biggest problem you will have is when you sell the car.... in order to sell it both your mom and dad (who is dead) would need to sign over the title (assuming it says Mr John Doe and Mrs John Doe on the title)... to fix the problem your mom needs to get a copy of his death certificate and take it along with the title to the car to the DMV... they can then reissue a title with only her name on it and not his...

Of course it is possible that the title actually only says Mr John Doe and/or Mrs John Doe... in which case it doesn't matter that he is dead she could sell the car and transfer the title without doing anything special... the key is how the owners are listed on the car title...

But the bank or finance company only wants their money, if your dad is dead and they are still getting paid they are happy.

ERIC E

All assetts and liabilities from both your parents are now your mothers. The finance company won't care about any of it so long as they get their money.

MarJoe

No big deal as long as the payments are being made,and both names are on the loan.

wehackett

Generally they're supposed to know about that sort of stuff. If she told them now they'd be mad probably but the car would just go completely under her name as owner and you as a registered driver of it. She might actually get charged less then before because now there is one less driver (Sorry about your dad by the way.)

MSAD

The title being in both parents names just means it could be a pain in the neck if you sell the car or total loss it.

Depends how the names are.

If the names are: John Doe or Jane Doe - not a problem - only one person has to sign the title to sell the car.

If the names are John Doe and Jane Doe - then you will have to have the personal Representative of the estate sign for John Doe. They will have to sign as PR and will have to attach a raised seal copy of the PR paperwork. What the paperwork is called varies from state to state - but in general this is the process.

paul j

tell them, i believe all they do is take him off of the loan.

INS CSR-L.A. County

Have the death certificate ready and tell the finance company. It should be no problem if she is still current on the payments. You only get into trouble if you fraudlently withhold information.

Morganna

well it would be her car so I don't know what you are so worried about.

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