Oct 6 2010, 04:06 PM
QUOTE(cherroy @ Oct 6 2010, 04:00 PM)
1. Don't need to pay the debt.
2. A car ownership goes with the name. It is the father's car, whether you are driving or paying the loan, doesn't mean it is owned by you. Even you pay off the installment, the car is not belonged to you, but the father.
Yes, must inform the bank.
Banks won't able to chase after you on the father's debt.
Banks will follow the estate law, aka use the father left over asset to pay off the debt.
Banks cannot chase after the debt from the family members.
exactly, i remember similar thread in here not long ago 2. A car ownership goes with the name. It is the father's car, whether you are driving or paying the loan, doesn't mean it is owned by you. Even you pay off the installment, the car is not belonged to you, but the father.
Yes, must inform the bank.
Banks won't able to chase after you on the father's debt.
Banks will follow the estate law, aka use the father left over asset to pay off the debt.
Banks cannot chase after the debt from the family members.
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