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Surviving Agreement

An agreement between divorcing parties is said to modifiable or unmodifiable.

Question: CAN A SURVIVING SPOUSE CONTINUE HER HUSBAND'S CAR LEASE AGREEMENT? my husband was leasing a car in lousianna but my name wasn't on the leasing agreement,he recently died can i keep the car and continue to make payments on it,or do i have to return it back to the company...he'd been leasing it for almost 2 yrs....

Answer: You cannot keep the car. Most states have a marital property law, where if a spouse passes, the other person can assume whatever debt or payments are left. You do, however, have to be on the actual paperwork. You will have to call the lease company, or the dealer, and tell them that your spouse has passed away. All leases have built in GAP and life insurance, so the car lease/note will be forgiven. If you want to keep the car, you will have to apply for the lease, as if you were purchasing a new vehicle, and have you credit approved. I would recommend shopping around first. You may be able to get a new car for the same payment.

 


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