Full question:
I have a leased vehicle and my name is the only name on the contract. Cancer may take my life before the contract is completed. Can the finiance company make my spouse, who is not on the contract, pay the remaining balance?
- Category: Wills and Estates
- Subcategory: Probate
- Date:
- State: Texas
Answer:
According to Texas law, specifically Section 294 of the Probate Code, personal representatives of estates must notify creditors of the decedent's death and allow them to present claims against the estate. This notification must be sent within one month of receiving letters of administration.
Section 298 states that claims can be presented to the personal representative at any time before the estate is closed, as long as the claim has not been barred by the statute of limitations. If an unsecured creditor does not present their claim within four months of receiving notice, that claim may be barred.
In your case, since the lease is solely in your name, your spouse is not legally obligated to pay the remaining balance unless they are made responsible through the probate process or other legal means. However, creditors may seek payment from the estate, which could affect your spouse if they inherit any assets.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.