Guys,

I need help/advice please.


I am about to purchase this car off this old gentleman. The car belongs to his decease brother (recently died 2 weeks ago). The car has been paid off and he said he is the

 

I don't know...

There seems to be a lot of scams going on with this kind of scenario. Sure, it could be legit, but I don't know of any way to be sure. Perhaps you should contact a lawyer or the DMV?

Good luck.

 

get a death certificate from him. Is he married? who's the next of kin? You need to find that out. When my brother died, his wife secured all of his posessions. We sold the car on her behalf w/o any prob because we got the death certificate and a power of attorney to prove that it's legit.

 

All you need is copy of trust. Make sure the gentlemen's name is on beneficiary list.

If so then you are all good.

 

First of all, was the original owner married. If so, still married or divorced. Don't really understand why the brother would be the Trustee. However, because he says he has been designated the Trustee, there must to a Living Trust, which means there will be no Probate Court/Administrator/Hearings. Cars however, are not listed in the Living Trust, but the wordings (Cars, Vehicles, Automobiles) might appear in the "Pour over Will." In which case, it is part of his Estate. If the original owner has no heirs/beneficiaries/successors/spouse, and his entire Estate Value is not over 1.2M Gross there is not Estate Tax, so I don't see much of a problem with him executing the deal. Just make sure you see something that clearly states that he is indeed the Trustee and if he is, make sure to make the Check from the Credit Union Pay to the Order of: The Estate of (Original Owners Name). Go to the DMV site under forms and Download and Print two copies of Release of Liability Form as well as the Title Application Form. Fill it out and have him fill it out also. He should sign his name in the current owner(s) section with the wording at the end (Trustee of the John Doe Trust). Then go with him to a Notory because the application form must be Notorized before being Sent to SAC DMV. This will give you the opportunity see the Living Trust documentation because he will need it for the Notory. At that time, you may ask him for the copies of His license as the Trust Doc coverpage as well as the signature page with the original Notory on it. This is because his signature should also appear on there with the title Trustee or Successor Trustee. After you get these these you should be okay.

Remember, if he provides all these documentations and the instructions on the Trust document has nothing said about the original owner wanting to be buried in the "S" you should be fine.

Keep these documents for your records
1) Copy of Release of Liability and Application of Title w/Notory
2) Copy of the Check (Payable to The John Doe Trust)
3) Copy of Trust Doc or aleast the filing No. and City of Filing.

Anymore questions you can PM me.

 

Nerdboy,

Thanks man. You seem to know a lot. Just curious of how u get your knowledge??

Anyways it sounds so complicated. Do you think my credit union would know the entire process??



Thanks,
Tony

 

Get someone in the legal profession to review all documents before handing money over.

 

tntrac, I work as a Financial Advisor, and part of that is working with clients in setting up and funding their Trusts as part of their Estate Plan.
It is not really difficult to get this perfect. Remember the simple rules of Checks and Balances. Just make sure you Check all of the facts and figures and they all connect.
1) Call the Gentlement and Arrange the meeting.
Have him prepare some of the Documentation and tell him that your Credit Union is requesting them.
A) Copy of Death Certificate
B) Copy of Living Trust which names him as the Successor Trustee/Executor of the Estate, which has a filing date, the name and address of the Attorney that prepared it, and the filing date with the Courts name and Address. (This way, you can check certain things off)
1) He is the Sole Beneficiary and Trustee, him being the Trustee does not mean he can sell the car if he is not the Sole Beneficiary of the Car or the Estate. And because Cars are not usually specifically listed on the Assets page of the Trust Doc., unless he is the Sole Beneficiary, he does not have the right to sell it without a written permission from all of the Beneficiaries. As Trustee, his only real power is to conduct the transaction and maybe advise, not decide on them.
2) The original owner is indeed dead
3) This is the most current Trust Doc. on file with the Attorney and Court. Sometimes people will amend their Trusts with another Attorney so you can check with the court and pay about $3.50-6.00 for copies of the latest on file.
As I stated previously print out the forms from the DMV website and have him fill it out as well as the Credit Union on the New Lien Holder Section. Then go with him to have it Notorized. The Notory will check all required Docs since the original owner is Dead. That is the only way the DMV will accept the Transfer request because the person signing the Docs and the Owner will be different people. If he signs all the Docs after you have checked them off as Joe Doe, Trustee of the John Doe Estate, then you can take the copies to your Credit Union and have them Cut a check out payable to the John Doe Estate. Take the check as well an envelope addressed to the DMV with stamps and take them to the person. You can then have him endorse the Title, Signed as Trustee as well as all the prepared Docs. and give it to you for the check, you can them mail all of them off to the DMV...
If all of these clears, you have really nothing to worry about. If you are still in doubt, PM me or text me I will PM my Text and phone Number.

Wish much luck
Chris