One of the main duties of an executor of an estate is to liquidate the estate’s assets. The money raised by the liquidation is used to pay back the creditors of the deceased person and to give the rest to the beneficiaries of the estate. This would include selling any vehicles that have been turned over to the estate for liquidation. The process of selling the vehicles can be hampered if you can’t find the title to one or more of the vehicles. A car title acts as the official proof of ownership in most states and you won’t be able to sell the vehicle without one. If you are an executor of an estate in Virginia and you need to get a replacement title for a vehicle so you can sell it, here is an overview of the process you will have to follow to get the replacement.
The first thing you will have to do is prove that you have the authority to act on behalf of the estate to get the new title. The authority to act as an executor is given in one of two ways: you are appointed by the deceased person to act as their executor in the will, or a court appoints you to act as the executor. You will need to supply a copy of the will, or the appointment papers, when requesting a new title for a car you want to liquidate.
Form VSA 66
You will be required to fill out form VSA 66, which is called an “Application for Supplemental Liens or Transfer Liens for Replacement and Supplemental Titles”. The executorship papers give you the authority to sign the form on behalf of the deceased person. You will file this form along with copies of the executorship appointment papers, or will, and a certified or notarized death certificate to the state.
Any liens on the vehicle must be paid off before a clean title is issued that will allow you to transfer the ownership it to a buyer. Probate laws might affect your ability to sell other assets from the estate to pay off the existing liens as creditors have to be given time to make claims against the estate. Creditors can file a claim up until a “Debt and Demands” hearing as taken place. In this case, you can either loan money to the estate to pay off the liens, or you can wait until the estate has been fully probated so you can sell assets and use the money raised as you see fit.
You can sell the car once you get all the proper documentation together and all the liens are paid off. Contact a business, such as Vintage Titles, for more information.