Re: Auto Reposession in Louisiana

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On 6/22/02, Mike Gardette wrote:
> My nephew died a few weeks ago. He was paying notes on
> a '96 Camary when he died. He was never married and had no
> children (no decending heirs). He owed appx. 35&37; of the
> principle of the loan. He had no assets or will. My
> question is...in Louisiana if the vehicle had been paid off
> and had clear title, the car would assend to his parents.
> Since the car was not paid (no clear title), but payee was
> of majority age, he is/was solely responsible for the
> payment of the vehicle...correct? If that is true, and
> since the title is being held by the finance co., how would
> assending heirs handle the above movable property? Does his
> father have any legal right/recourse for recovery of the
> title? He is in possession of the vehicle. Bank indicated
> that they will sue for recovery of the vehicle. Thanks for
> replys in advance...
Mike, your best bet would probably be PAYOFF the lein and get
title then decide the assend and descend part. If anyone
wants the vehicle that would be the way to get maximum value.
Because if the leinholder repos and sells at auction a lot of
VALUE will be lost and a lot of EQUITY..You know the La.
sheriffs will GET the unit and it will be sold and the
losses begin. Good Luck and GOD Bless You roosta

Re: Auto Reposession in Louisiana, 9/08/02, by roosta.

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