Is the estate responsible for a jointly held car loan? | NC

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Q: Is an estate responsible for a car loan if the loan was jointly held with another borrower? A: Yes. If the deceased person signed the car loan as a borrower or co-borrower, the estate may be responsible for that debt, to the extent estate assets are available. The surviving co-borrower usually remains separately responsible to the lender too. A co-borrower does not automatically erase the…