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<p class="MsoNormal"><a name="_GoBack"></a>I have an estate where the vehicle has a bank loan. Lender is unwilling to take the vehicle back stating it is not worth it’s time or energy. National bank with the initials WF. My thought was to have client market
vehicle on Craigslist, get an offer then petition the court with notice to the bank requesting authorization to sell the vehicle free and clear of the lien with the
<u>net</u> proceeds payable to the lender. I have cleared title on vehicles for paid off debts where lender dissolved and new bank for whatever states it didn’t acquire that asset. Never run into this situation before.
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<p class="MsoNormal">Note: Notice to creditors was given to lender and the period for bank to file a creditor’s claim is expired, so the estate is protected from any deficiency claim. This is a nonintervention estate because there are other assets, but I believe
I have to go to court to clear title, i.e., directing DOL to remove lender from title. Any thoughts (or concerns) on this truly unique situation would be appreciated. For example, is there an obligation to utilize the other assets of the estate to pay the
vehicle loan when the creditor’s right to a deficiency has run? <o:p></o:p></p>
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<p class="MsoNormal" style="text-align:justify"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Marcus J. Fry<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Lyon, Weigand & Gustafson, P.S.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">P.O. Box 1689
<br>
Yakima, Washington 98907 <br>
Telephone: (509) 248-7220 <br>
Facsimile: (509) 575-1883 <o:p></o:p></span></p>
<p class="MsoNormal" style="text-align:justify"><b><u><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p><span style="text-decoration:none"> </span></o:p></span></u></b></p>
<p class="MsoNormal" style="text-align:justify"><b><u><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">NOTICES:<o:p></o:p></span></u></b></p>
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