What is the name of your state? ohio
"I was just informed that my friend left me her 2001 BMW and I was told that since the car was not owned free and clear I would have to pay the loan balance to get clear title. The will does not say anything about the car loan, it just says the vehicle is to go to me. There is not much up side to this if I have to pay the loan, and its not something that I really want. my question is, does debt go with the asset in a case like this, or should the estate pay all the outstanding debt first and then distribute the remaining assets? I don't believe there is much money in the estate so they may not be able to pay this anyway.
ps, the death was in Arizona, I am in Ohio
"I was just informed that my friend left me her 2001 BMW and I was told that since the car was not owned free and clear I would have to pay the loan balance to get clear title. The will does not say anything about the car loan, it just says the vehicle is to go to me. There is not much up side to this if I have to pay the loan, and its not something that I really want. my question is, does debt go with the asset in a case like this, or should the estate pay all the outstanding debt first and then distribute the remaining assets? I don't believe there is much money in the estate so they may not be able to pay this anyway.
ps, the death was in Arizona, I am in Ohio