What is the name of your state (only U.S. law)? California
My father passed away a few months ago. A few weeks before he passed, his leased car (in HIS name only) was repossessed (he failed to make monthly payments during the time he was sick). He received a letter stating that the car would be going up for auction. I am his daughter and the trustee of his trust. The car was not in the trust.
What is his estate financially responsible for regarding this car? I have no interest in getting the car back. Can this debt be passed down to me personally if the estate does not pay for any deficiencies resulting from the Repo or the broken lease agreement?
Thanks in advance
My father passed away a few months ago. A few weeks before he passed, his leased car (in HIS name only) was repossessed (he failed to make monthly payments during the time he was sick). He received a letter stating that the car would be going up for auction. I am his daughter and the trustee of his trust. The car was not in the trust.
What is his estate financially responsible for regarding this car? I have no interest in getting the car back. Can this debt be passed down to me personally if the estate does not pay for any deficiencies resulting from the Repo or the broken lease agreement?
Thanks in advance