Who is responsible for a deceased husband's car loan if the title was transferred into his wife's name and the loan company was advised of his death?

There are several factors that come into play here. First, you need to find out if there is Credit Life Insurance (CLI) on the loan. Many banks and other financial institutions offer this at the time the loan is made.

This type of insurance is designed to pay off the loan in case of death. Find the original paperwork from the car purchase/loan if possible as the CLI information will be with it. If no luck there, call the financial institution with the loan and ask them if CLI was puchased.

If CLI was purchased, then you will need to contact them and tell them that your husband has died which will then put things into motion for them to take care of loan. Once that is done, the car then belongs to whomever it is willed to. If you have CLI.. stop reading....When a loan is made where there is collateral used (as in this case) to guarantee payment, then that loan must be paid out.. or the collateral (the car) given up to the lien holder.

So... if whomever receives the property does not continue to make payments on the loan, then the financial institution has the right to repossess the collateral. Advising the loan company who now has possetion of the car, simply tells them 1)where to look for payments and 2)where to go get the vehicle if payments aren't made. I am assuming that since you stated the car title was transferred to your name then there is not problem with the will and probate.

One other point, if the car title is not a 'lien title' and in most states is will show the lien holder name on the title if there is one, then there is effectively no 'lien' on it. However, that may not save you from legal action should the financial institution be able to show valid paperwork that indicates the vehicle was used as collateral. Last point your husbands estate consist of all assets and all liablities that he has acquire and acrued.

Liabilities must be taken care of with the assets of the deceased. Should there not be enough, then the owner of the debt against those assets are entitled to invoke the default provisions contained in the loan documents. Hope this helps!

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