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I have a leased vehicle and my name is the only name on the contract. Cancer may take my life before the contract is complet...

I have a leased vehicle and my name is the only name on the contract. Cancer may take my life before the contract is complet...

Q: Who has the title on a leased car?

The title of a leased car is held by the leasing company, not the individual who is leasing the vehicle. The lessee has the right to use the car according to the lease agreement but does not own it outright.

Q: What happens to a leased car if the owner dies?

If the owner of a leased car dies, the lease remains in their name. The personal representative of the estate must handle the lease obligations during probate. The leasing company may seek payment from the estate for any remaining balance.

Q: Can someone take over your car lease?

Yes, a car lease can often be transferred to another person, but this typically requires the leasing company's approval. The new lessee must meet the credit requirements set by the leasing company to assume the lease.

Q: What if my dad passed away and my car is in his name?

If your dad passed away and the car is in his name, the vehicle becomes part of his estate. The personal representative will manage the car's lease obligations during probate. If you inherit the car, you may need to address the lease with the leasing company.

Q: Can you transfer a car lease to another person?

Yes, transferring a car lease to another person is possible, but it requires the leasing company's consent. The new lessee must typically qualify based on creditworthiness and other criteria set by the leasing company.

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: 04/07/2025
State: Texas

Answer:

Section 294 of the Probate Code of Texas provides, “Within one month after receiving letters, personal representatives of estates shall send to the comptroller of public accounts by certified or registered mail if the decedent remitted or should have remitted taxes administered by the comptroller of public accounts and publish in some newspaper, printed in the county where the letters were issued, if there be one, a notice requiring all persons having claims against the estate being administered to present the same within the time prescribed by law. The notice shall include the date of issuance of letters held by the representative, the address to which claims may be presented, and an instruction of the representative's choice that claims be addressed in care of the representative, in care of the representative's attorney, or in care of "Representative, Estate of __________" (naming the estate).Section 298 provides, “A claim may be presented to the personal representative at any time before the estate is closed if suit on the claim has not been barred by the general statutes of limitation. If a claim of an unsecured creditor for money is not presented within four months after the date of receipt of the notice permitted by Section 294(d), the claim is barred.

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.

FAQs

What happens to a car lease when a person dies?

When a person dies, the car lease typically remains in their name. The lease obligations may be settled through the estate during probate. If the lease is not transferred, the estate may be responsible for any remaining payments. Creditors may seek payment from the estate, which could affect heirs if they inherit any assets.