legal’ish selling car type of question...
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Forum Name: General Chat
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URL: https://www.ohbaby.co.nz/forum/forum_posts.asp?TID=29105
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Topic: legal’ish selling car type of question...
Posted By: BaAsKa
Subject: legal’ish selling car type of question...
Date Posted: 01 October 2009 at 8:00pm
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Ok so i inherited my mums new car when she passed away last month and its really too small for my family. Its a 2007 daihatsu sirion....so its tiny! lol. She still owed money on it even though it has insurance, the lawyer is dealing with that and i really want to sell it now/trade it in...
Can i legally sell it??? its in my name now... |
Replies:
Posted By: blondy
Date Posted: 01 October 2009 at 8:13pm
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We were in the same position when my Dad passed away a couple of years ago (although we had 2 cars to sell - one not even going!) We didn't transfer them into my name to sell, just filled out the seller forms 'on behalf' of my Dad, and obviously told the people we sold to the full story. (Don't actually know if that was legal lol!) The cars were owned outright though, so I don't know about the money owing side of things. AFAIK, as long as no-one is there to protest the sale, you should be fine (although obviously someone correct me if I'm wrong!) -------------  
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Posted By: BaAsKa
Date Posted: 01 October 2009 at 8:21pm
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we want to trade it for a bigger temporary car while we wait for our new car (just sold my bigger family car last week). So i wouldnt be paying the debt off - thats what the insurance is for and probate has just come in so may be another monthish...
that probably makes no sense at all!!! lol |
Posted By: Mamma2N
Date Posted: 01 October 2009 at 8:25pm
I would be inclined to run it past the lawyer dealing with your Mums estate. He/She should be able to let you know the ins & outs. And I'm sorry to hear about your Mums passing 
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Posted By: minik8e
Date Posted: 01 October 2009 at 8:28pm
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As far as I understand, you will have to pay any moneys outstanding at the time of sale, otherwise the new owner can get stuck with the debt. Most purchasers who do pre-purchase checks will require this as well.
I think there will be something in the credit contract that your mum signed that says that the vehicle cannot be sold without either the lender's permission, or the debt being repaid in full. The problem arises with security for the debt otherwise. I hope this helps! |
Posted By: BaAsKa
Date Posted: 01 October 2009 at 8:35pm
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oh Kate that makes sense...bummer though ...i really shot myself in the foot by selling my big c ar...just didnt think i would be stuck with the tiny daihatsu for so long!!!!
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Posted By: lilfatty
Date Posted: 01 October 2009 at 9:04pm
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Amber, you could still do a trade in deal, the dealer would just pay the finance company the amount owing, the difference in the trade in price offered would be your deposit on the new car.
That scenario happens quite often. (although not the death part) ------------- Mummy to Issy (3) and Elias (18 months) I did it .. 41 kgs gone! From flab to fab in under a year  http://www.femininefitness.co.nz/category/blog - LFs weight blog
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