i

This is a discussion on i within the Family Law Questions forums, part of the Legal Questions & Answers Forum category; can our sister in law forfeit our property which was collateral of debt by our deceased parents ?...

Results 1 to 2 of 2
  1. #1
    Junior Member
    Points: 4, Level: 1
    Level completed: 7%, Points required for next Level: 46
    Overall activity: 0%

    i

    can our sister in law forfeit our property which was collateral of debt by our deceased parents ?


  2. #2
    Administrator
    Points: 110,886, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 93.0%
    Achievements:
    Created Blog entryOverdriveTagger First Class50000 Experience PointsVeteran

    So your parents had a secured loan and your sister-in-law wants to give the collateral back to the creditor? Not knowing what state you are in or what the collateral is, I can only guess. Usually a creditor has no right to reposess collateral unless the payments are delinquent. If you are behind on say a car payment, the creditor will try to reposess it whether anyone forfeits it or not. If the payments are current, they would leave it alone. So, whether someone wants to forefeit is secondary to whether the payments are current.
    Legal Disclaimer: Answers to questions on this forum are for informational and educational purposes only and do not constitute Legal Advice. No attorney-client relationship is established through this forum.