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    skylarsmommy's Avatar
    skylarsmommy Posts: 3, Reputation: 1
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    #1

    Jul 7, 2008, 11:30 AM
    Can a vehicle be repossessed during probate of an estate?
    Can a vehicle be repossessed during probate of an estate?
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
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    #2

    Jul 7, 2008, 11:36 AM
    Yes.

    If the loan is in default, the lender is not bound to wait until the estate is settled, and as long as he is within the law for your jurisdiction, he can repossess the vehicle.

    Most jurisdictions will allow a certain amount of time for the repossession to be redeemed and that may be an option if it does get repossessed before things are settled.
    skylarsmommy's Avatar
    skylarsmommy Posts: 3, Reputation: 1
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    #3

    Jul 7, 2008, 11:39 AM
    Ok, thank you I wasn't sure of that law. They are wanting to be paid (of course) but that is the only thing keeping the probate open. They are wanting $13,000 for this vehicle they auctioned for $800. Anymore advise?
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
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    #4

    Jul 7, 2008, 11:43 AM
    If that figure represents the difference between the loan balance, and the proceeds from the sale, then that is the correct figure.

    They are allowed to add certain expenses and fees to the balance, and of course interest that keeps accruing from the date the payment was due.

    Do you have an attorney to help you get this sorted out?

    If not, you may want to look into that, just to insure everything is on the up and up regarding the repossession and disposal of the collateral.
    skylarsmommy's Avatar
    skylarsmommy Posts: 3, Reputation: 1
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    #5

    Jul 7, 2008, 11:45 AM
    Yes we have an attorney this probate has been open since January 2007
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
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    #6

    Jul 7, 2008, 11:51 AM
    If this is the only issue, then my guess would be that your attorney must be trying to get the amount reduced.

    What has the attorney told you about the progress on this issue?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #7

    Jul 7, 2008, 12:48 PM
    Does the estate have enough to cover the amount? Did the loan go into default after the debtor deceased?
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