I co-signed a loan for my brother to purchase a Motorcycle. The title to the bike ,which the Finance company holds is in his name. He passed...

Question

I co-signed a loan for my brother to purchase a Motorcycle. The title to the bike ,which the Finance company holds is in his name. He passed away in July and I am currently paying the monthly payments. I have the Motorcycle in my possession and need to sell it to pay off the loan.He was divorced and had 4 children but died with no will. What do I need to do to get the title in my name?

Answer

You need to make a claim against his estate as a creditor. If he had no assets to probate, then you may be able to petition the court for a transfer of title if the fair market value of the motorcycle is $40,000.00 or less after the payment of the debt. There is a form to file with the probate court. The probate court clerk in the town where he lived could help you.

If there is an estate opened in the probate court, then you would need to make a claim as a creditor in that estate. Speak to the probate court clerk.