posted Mon, 12/15/2014 - 14:47
863
Lawyer/meat head bros
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Im sure eroids nation has at least one lawyer in its diverse army. And I need your advice brother (or anyone really)...
So my girl friend had her dying grand father co-sign on a car (from a dealership @$11,000 with $2000 down) but....hes about to die any moment and when he dies (because he lives off the state and put no money away in his youth though he has a AA credit score) the state gets all his stuff. His house, car, valuables etc.
Since he cosigned for the car when he dies that means she has no cosigner so will the car be taken even though the loan was approved before he died?
Also is the state entitled to take her car because he cosigned?
Any help would be wonderful bros!
...btw im so poor so this consultation is free 
thanks
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If the title is in her name she is fine. I have student loans cosigned by my father, and the only thing that actually means is that should I stop making payments, he has to make 12-18 months worth of payments (I forget exactly) and he will be let off the loan. im going under a big assumption here that it will be similar, but it's more of an incentive program... You don't wanna burden your loved ones with the debt, and your credit score isn't high enough to be given the loan on your own, so they basically make a "just in case" clause. If she does stop making payments, they're coming for the car, and whatever else she will owe after repo.
Iron_MonkFuckin love this site!
Thanks bros
If the title is in her name the state has no claim.
The bank owns the car.
As long as payments are made on time I doubt if the bank would call the loan.
Yep
Exactly right as long as they are getting the bank note evey month theyll be fine.
I believe she'll still retain the car
Similar situation just happened with my gf a guy unrelated kind of like a stand in grandfather to her consigned for her car (before she met me)
He passed away, she was worried the car would be taken or shed have to find a new cosigner
Come to find out the only big deal is make sure she makes the payments on time bc if not his estate is now responsible for the car loan