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  1. #1
    Join Date
    Mar 2008
    Posts
    3

    Question Can a Bank Put a Lien on Decedents Property if It Was in Joint Tenancy

    My grandmother signed for a car for me 2 years ago. It is totally in her name and she passed away in Jan. If I let the bank repossess the car can they put a lien on her property for the remaining balance of the loan? The deed is is joint tenancy with my mom and my uncle and they are named on the will to get the property when she died. Does this mean that the property is no longer an asset off my grandmother's. My mom and my uncle think that since my granmothers name is on the deed also that the finance company can still put a lien on the property. I told them that since upon her death they become the owners then the finance company can't touch the property. Who is correct? State is IL

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Can a Bank Put a Lien on Decedents Property if It Was in Joint Tenancy

    do you understand that if your parents were joint tenants with g-ma, the will could not distribute the property? The fact it is included tends to make the "joint tenant" statement a bit suspect.

    btw: you have no option about "letting" the bank repo the car. G-mas estate can pay for it or it will get repo'd. You have no claim to the car in any way.

    btw; they apply for the deficit against the total estate, not just the property in the estate.

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