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Can a car be repossessed if the owner dies before the first payment is due?
Wiki User
∙ 10y ago
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
Wiki User
∙ 10y ago
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What has to happen before a creditor can have your care repossessed?
A car cannot be repossessed until the owner has missed several car payments and the owner has been notified of late payments. In most states a car can be repossessed after three months of non-payment.
How many months delinquent must a mortgage loan be before the mortgage insurer contacts the home owner?
Typically, they will call the homeowner before the first payment is behind to remind the home owner that a payment is due. - VoyageHomeLoans
What research should one do before buying repossessed cars?
Before buying repossessed cars, you should first research the frequency of repair and maintenance costs on the models in auto-related consumer magazines. You can also ask for the car's maintenance records from the owner, dealer or repair shop.
If primary owner and cosigner have both their names on the title and primary doesn't pay the payments can you repossess the vehicle The title says or on it.?
If there are two individuals listed on the title of a vehicle as primary and joint, they are both responsible for the payment of the loan. If the primary defaults on the payment, the joint owner is responsible for payment. If both parties default, the vehicle can be repossessed.
What if your car was repossessed due to lack of insurance yet was insured at time of repossession?
Vehicles cannot legally be "repossessed" due to a lack of insurance. Re-possession can occur only when there is a default in the payment contract and the original owner (the lender) recovers their property from the defaulter.
What does repossession of car mean?
When a car is repossessed it usually means the owner is no longer able to make the payments. It is repossessed by the dealer or the bank in which to owner has the loan through.
How do i report a repossessed bike?
If it's repossessed, it's repossessed... there's nothing to report. As long as there's a lien on that vehicle, the lienholder is the rightful owner of it, and can reclaim their property.
What happens if the property you are renting becomes repossessed?
It depends on what the new owner plans to do with your unit. You can ask the current owner if he knows.
Can you be held responsible for repossessed car if co owner had possession of car?
yes you will be responsible.
Owner of car stole it back from repossession company?
If it was repossessed legally then he is guilty of theft
Can a lien be placed on a home if the owner owes a loan deficiency amount when a vehicle is repossessed?
Yes.
If car is repossessed does the owner have to still pay original cost of car?
In most cases YES
