C
cdengert
Guest
Key Players/Situation: Deceased woman, daughter #1, daughter #2. Two yrs before death, deceased woman buys car for daughter #2. Everything is in the name of the deceased, since daughter #2 has very bad credit rating. Daughter #2 makes monthly deposits into the bank acct of the deceased and payments are automatically withdrawn by loan co. Daughter #1, executor, has her name on the bank acct along with the deceased. She feels at risk and doesn't want any part of daughter #2's plan, but to take her name off the acct, the acct has to be closed, kiboshing daughter #2's plan. The deceased stipulated in her will that the car go to daughter #2 and it was well known that she intended that the bank account stay open so that daughter #2 could continue to pay on her car. $10,000 is owing on the car loan. Question #1: Is this legal or does the death have to be reported to these creditors/bank? Question #2: Is there a way for daughter #2 to come out of this with a car, which she very much needs for job, etc.
NEW YORK STATE
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Cam
[This message has been edited by cdengert (edited August 14, 2000).]
NEW YORK STATE
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Cam
[This message has been edited by cdengert (edited August 14, 2000).]