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who owns the car?

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nina417

Junior Member
What is the name of your state (only U.S. law)? NM

here's the situation: daughter's and father's names are on the title of a car. father passes away. does this car then become only the daughter's or does it get included in the father's estate? situation is in New Mexico, car is paid off. family is fighting over it and because of that, the execution of the will is being delayed. Certain members of the family are demanding the car be sold and the money go to the estate. If that is the case, and the law (requiring the daughter to give up the car or pay his portion off) wouldn't half of the proceeds from the sale of the car go to the daughter?What is the name of your state (only U.S. law)?
 


nextwife

Senior Member
How is the co ownership held? Daughter may owe the estate half the equity.


Yes, the car is only half owned by the estate. Half of any sale proceeds belong to daughter. Daughter could get a loan for half the value, and pay the estate for her share.
 

JETX

Senior Member
daughter's and father's names are on the title of a car. father passes away. does this car then become only the daughter's or does it get included in the father's estate
The vehicle is 'owned' by the daughter and the fathers ESTATE.

Certain members of the family are demanding the car be sold and the money go to the estate. If that is the case, and the law (requiring the daughter to give up the car or pay his portion off) wouldn't half of the proceeds from the sale of the car go to the daughter?
Pretty simple.... daughter needs to get an independent appraisal of the value of the vehicle.... then 'purchase' the estate share by paying to the estate. The executor would then ask the probate court to issue an order to the DMV to issue a new title solely in her name.
 

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