Hello,

I would like to seek advice in the matter of my situation.

My dad just passed away recently and left us with a car (still under hire purchase, and just paid for 14months, total 107months). He did paid quite some of deposit, to lower down the monthly repayment.

After consideration, me and my family decided to sell the car and hoping to get some cash out of it to put it in our home loan.

How do i go about to sell the car? should i inform the bank? proceed to advertise the car and deal with jpj n stuff?

Thanks

JPJ requires an LA (Letter of Authority I think) from the courts to permit name change - you cant sell a deceased person's property. This LA is obtained from hiring a lawyer and going through - sorry - a heck of a waiting process and quite a lot of money in legal fees - speaking from personal experience - 3 years on after mom passed - her car still cannot be transferred or sold.

The main problem? No will right? Same boat mate

Another cheaper option is tru Amanah Raya (Gov body). U'll b asked to prepare some documents and will take a couple of years to hv it settled. Once tats settled, d car has to be transferred ownership to a direct family member b4 it can b sold, if i remember correctly.

In d meantime, s'one will hv to service tat loan, unless u plan to let d bank confiscate d car.

This post has been edited by Deja Vu: Jan 6 2012, 08:26 AM

I thought when we buy a car & take a loan for it, there's an automatic insurance coverage where the car will be fully paid for if the person is deceased during the course of the loan? Same goes for housing?Suggest you talk to your family lawyer / financial advisor on this.
By the way, I'm sorry for your loss.

This post has been edited by DSV4600: Jan 6 2012, 08:32 AM

Speaking from my own experience, it took us 10yrs to get LA thru Amanah Raya. Although it is hassle free, it takes really long time, unless you constantly push them. But by doing so, their reply would be 'kita tak boleh buat apa-apa, kena tunggu surat perintah'

Upon my uncle's passing, my aunt and cousins had to wait a good 10 yrs to obtain only the LA when they thought the name would be transferred.For them , it was still okay because it was properties but in case of vehicle, the value depreciates and by the time you get things sorted out, there wouldn't be much to gain from the sale.

just my 2 cents..

Agree partly on tis. When my cousin passed on almost 2yrs back, it took quite a lot of pushing along d way(went to both Putrajaya n local office). But its finally wrapping up now.

As for d insurance part, I hv heard and noe ppl tat took d loan with and without insurance coverage for vehicle hire n purchase. U'll hv to contact d bank on d balance.

through experience, i know its gonna be long n tedious.. have 2 do that, have 2 do this, go 2 that office, go 2 this office, pay that, pay this.. in the case of my late grandfather's properties, it took my family more than yrs n its now finally resolving, that also not yet 100% complete.. still have 2 do some minor things..

in the case of his car, which we know depreciates quickly, luckily it was in another person's name.. so we sold that off immediately..

troll go back to your sweet o' /k/

Amanah? The service was so much of a ding-dong that eventually we used a lawyer. But then even that it is the court proceeding process that's the bottleneck. In short, without an official will and a professional executer for the will, the waiting time is 'Malaysian time'. Truly Malaysia.

i think its better for u to use the car for urself..

i think can.....my dad passed away last oct...the car is transferred to me within 2 month
but of course...the car is fully paid off

mestilah sbb xde hutang

Hi MR_alien, Can I know what is the process that you went through? My dad passed away a month back and I need to transfer the car that is still in his name. There is no Will though.

From experience my cousin pass away and it took 6 month for amanahraya to transfer the deed to my uncle. But he only has a bike lah

Nope that is only for home loans and personal loans, and it is optional. If you didn't get that type of insurance then there is no such deal.

To TS,

Please consult a lawyer. It is better. Try to get one that is familiar in the subject matter. The process will run more smoothly and hopefully faster if they have connections.

if i'm not mistaken, that kind of insurance coverage does come if you use Islamic loan...

My dad had a will, but to apply it would involve appointing a lawyer (extra costs) especially since my siblings and I were not claiming any of the assets and it will all go to my mom.
Basically what we did was that we went to the Harta Pesaka route. All my siblings and I signed of a form at the Magistrate's Court that we are not making any claim to my fathers assets.
Next my mom completed the Harta Pesaka form and submitted it to the Court. Waited a couple of months and the Court released its verdict. After that we finished up with the land office (transfer of property), bank (transfer of cash) and JPJ (transfer of vehicles). All in all, completed within 1 year.
Btw, sorry for your loss.

Oops, sorry to add on.
If you do go down the transfer vehicle to your own name before selling route, you may end up with 2 names (your dad and yours) on the registration card. Some people may not like since it becomes "third hand". You may want to check the process on how the executor of the will (once Harta Pesaka comes out with the results) is able to sell of the car.

better take loan from public bank ~ cos public bank got 1 insurance ~if the owner pass aways , the insurance will settle the balance of the amount ~
dun know other bank got this service or not ~~

i loan 40k the insurance charge 200++

Hi, Thanks for the info. I did check with the Pejabat Tanah Harta dept and the deceased must have a property that is under his/her name. Then only you can do it with them. The balance money in the back, ownership of vehicle is considered add-ons that they bundled in together with the property.

In my case, my dad only has a car that is under his name so Pejabat Tanah won't be able to assist. They asked to appoint a lawyer or engage with Amanah Raya. Will give a call to Amanah Raya and find out more on it.