car ownership after owner dies

[DanzEterna]

hi guys,
need to ask a question bout car ownership

car : naza sutera (new)
loan tenure 9 yrs
owner deceased but guarantor still alive

scenario
this uncle of mine bought a sutera brand new bout rm30k++ at that time,
after using the car for 2 yrs he died, now unable to renew roadtax & insurance,
wats the procedure? my uncle is an Islam same goes to the guarantor....must the bank reposes the car? & auction it?

any way for the guarantor to continue the mthly installment till finish & take full ownership of the car?

 

[D7zul]

i would like to know about this too..

but i think can ask bank to change name & continue payment with the bank.. then ask JPJ to change name

waiting for others to comment

 

[DanzEterna]

thanks bro...
kinda pening now...trying to help my bro in law...

anyways...my uncle died but did not leave any will behind.....

---------- Post added at 01:25 PM ---------- 6 hour anti-bump limit - Previous post was at 01:24 PM ----------

some say must surrender the car to baitumal...dunno true anot?

---------- Post added at 01:26 PM ---------- 6 hour anti-bump limit - Previous post was at 01:25 PM ----------

got this from google

When a person dies, all assets and liabilities become part of their estate. If there is a will, the will will determine who gets what. If there is no will, state law will determine the inheritances. The car is an asset. The payments due are liabilities. In this case the car is most likely worth more than what is owed on it so the estate would want to keep it. A personal representative must be appointed by the court to administer the estate. The personal representative can sell or otherwise transfer ownership of the vehicle. You should contact a lawyer to see what needs to be done in your state.


what is baitumal
Baitulmal is the body or institution that functions as a trustee of the Muslims. It looks after assets from which members of the Muslim public can benefit.During the golden era of Islam, Baitulmal acted as the national treasury. One of its main functions was collecting various forms of taxes from both the muslim and non-muslim communities.

 

[D7zul]

ya lor..

the easiest way is to go to Baitulmal..

they'll calculate everything.. money, property.. including car..

and divide it according to Syariah laws..

---------- Post added at 01:34 PM ---------- 6 hour anti-bump limit - Previous post was at 01:31 PM ----------

Amanah Raya also can..

AmanahRaya - Malaysia's premier trustee company

 

[DanzEterna]

but if worst case scenario they will auction off the car
the max will get will be rm10k+- the balance the guarantor still need to pay the bank, estimate rm17-20k left....

must as well the guarantor keep on paying the mthly installments......

anyone experienced this before?

 

[adlans]

IMO, please check with the car insurance policy whether it covers for death of the owner (natural or accident etc) and inform the bank. If it covers, there some form (IINM) you to fill in and wait for the insurance company. Then go for the ownership transfer.

 

[DanzEterna]

i dont think it covers the death of the owner, but anyways if it does cover,
no one can claim the money as the owner did not have any will.

 

[sagaevo]

Danz, you need check with the HP finance folks whether does their condition covers for hirer death. Because most HP finances (correct me if i'm wrong) are adapting Islamic banking law foundation, hence there should be a condition written to contemplate over this case even though the rightful owner is still the finance institution (Hakmilik dituntut oleh XXXXX bank/finance).

 

[mag9556]

Danz,

My friend face that before..
u need to inform bank with the dead cert, they will use the grantor name back as 2nd hirer and will treat as refinance (interest dun know??) thus need to send to Pupakom redo inspection to change name.. a lot of procedure like dead owner sell off the car but bank act the owner...

Good Luck

 

[DanzEterna]

ok thanks guys for the info...will check the details with my bro in law & keep u guys updated this weekend...

 

[vr2turbo]

Danz,

My friend face that before..
u need to inform bank with the dead cert, they will use the grantor name back as 2nd hirer and will treat as refinance (interest dun know??) thus need to send to Pupakom redo inspection to change name.. a lot of procedure like dead owner sell off the car but bank act the owner...

Good Luck

2nd hirer better check the ownership status also.

---------- Post added at 12:01 PM ---------- 6 hour anti-bump limit - Previous post was at 12:00 PM ----------

ok thanks guys for the info...will check the details with my bro in law & keep u guys updated this weekend...

Please do, will be good info for us, Thanks.....

 

[ddv_nk12]

ok thanks guys for the info...will check the details with my bro in law & keep u guys updated this weekend...

Keen to know this too.

 

[DanzEterna]

ok guys sorry for the late reply..
anyways my bro in law decided that its the best way to just return the car to the bank. As adviced by 3 other banks...cos there is nothing much they could do....the bank require them to pay at least rm100 per mth till end of the amount owned (after car is auctioned).

 

[ddv_nk12]

Did they say what is the RM100 for? To me, your brother in law is in the losing side.. Whatever amount paid before is gone as you don't get to keep the car. Now that he decided to settle the amount loaned (by auctioning) also he has to pay and still not get the car. Is this the only option? What about doing what mag9556 suggested?

 

[vr2turbo]

But he is only the guarantor, and did not pay any amount before. Moreover the car belongs to deceased person, and who is suppose to take over is not known......