Q: My name is on my dads trailer. He recently passed away and I sold the trailer. Do those funds have to pay his debt
A: It depends on what form of ownership you owned the trailer in with your dad. Joint tenants with right of survivorship? Tenants in common? If the former, the trailer passed to you alone upon your father's death. If the latter, you own only 50% of the funds from the sale, and your father's estate owns the other 50%. Depending on the amount of assets in your father's estate, a probate proceeding and notice to creditors may or may not be necessary. For further information, consult with a Michigan-licensed probate attorney in your area.
Kenneth V Zichi agrees with this answer
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
