Archive September 2019
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My Customer Died, Now What?We often receive calls from our dealer members trying to figure out what to do when one of their customers has passed away with a pending retail installment contract. Dealers need to exercise caution when allowing surviving family and friends to attempt to assume ownership roles under the contract or to retain possession of the vehicle.
The usual inquiry is made by a family member such as a child, parent, brother, etc., but can also be a live-in girlfriend or even ex-girlfriend or other unique relationship. Unfortunately, many customers in the BHPH world do not have a will, estate, executor, or army of lawyers to handle their affairs.
How Do Arbitration Agreements Work Anyway
Jordan A. Mayfield
Naham Howell Smith & Lee PLLC
Most retail installment contracts for the purchase of a car contain an arbitration clause or the dealership will have a stand-alone arbitration agreement. I would recommend that the arbitration agreement be part of the retail installment contract if the vehicle is financed since many of these agreements have a clause that states that the retail installment agreement is the entire agreement between the parties.