Grandma #Camper #Death #Bank #Title
What Happens When a Loved One Dies while Owing on a Camper?
Losing a loved one is never easy, and it can be even more complicated when they still owe money on a camper or other asset. In this article, we’ll discuss what happens when a family member passes away while still owing on a camper, and what steps you can take to resolve the situation.
Informing the Bank of the Situation
When a loved one dies while owing on a camper, it’s important to notify the bank or lender as soon as possible. In most cases, the bank will give you the option to either pay off the remaining balance on the camper or allow them to repossess it.
Making a Decision
After discussing the situation with your family, you may decide that it’s not feasible to pay off the remaining balance on the camper. In that case, you can inform the bank of your decision to let them repossess the camper. However, it’s important to note that the bank may not always come to collect the camper immediately.
Handling the Title
If the bank has not repossessed the camper after a certain period of time, typically two years, you may be wondering if you can simply obtain the title for the camper. It’s important to contact the bank to inquire about the status of the camper and discuss the possibility of transferring the title into your name.
Conclusion
Dealing with the financial matters of a deceased loved one can be overwhelming, especially when it involves outstanding debts on assets like a camper. By notifying the bank of the situation, making a decision on how to handle the debt, and exploring options for obtaining the title, you can navigate this process with clarity and peace of mind.
You would have to get the lender to release the lien.
https://www.avvo.com/legal-answers/vehicle-never-repossessed-now-what–2409864.html
The bank has the title, with themselves as the lien holder. Ergo, you need to ask the bank.
Can you charge the bank a parking fee for the 2 years?
Not sure about US laws, but I would try making the bank pay for parking their camper on my property…
Is there a branch nearby? Drop it off there.
Find out what it’s worth, make them an offer. Someone will want it.
>now we’re trying to figure out if we can just get the title since it’s been two years and it’s been sitting in my yard.
Most likely you can’t get a title without the lien being released.
I never understand when people think they can get something for nothing.
I’d call the bank and demand they retrieve their trash before you start charging storage fees. Either that or hand you the title.
Not sure what it is in your state, but research the process of title of abandonment.
Check to see if she signed the Sanity Clause.
Did your grandmother’s estate not go through probate? All of this should be dictated by a probate judge.