Bike under HP and owner passes away

[diablo_gixxer]

Hi would like to find out if the owner of a bike under hire purchase passes away. What happens to the remaing loan amount? does the sub rider automatically become the owner?

[contrarian]

The sub-rider has no rights in the hire purchase agreement.

[luvwenz]

most prolly the bike will go back to shop, if i'm not wrong.. =)

[hailang_82]

Pay all the installments first.

[xyoshiki]

I think the bike would become joint property of the shop and the beneficiaries of the deceased.

 

The beneficiaries to the deceased's estates should be able to own the bike if they paid up the remaining installments.

 

Sub-rider has no rights to the bike.....except to ride the bike legally.

[aidan]

So if the owner dies, the guarantor is totally out of the picture?

[aeX]

my uncle's bike is fully paid and i am the sub rider... when he pass away.. i like become the partial owner... i can still renew the insurance and road tax... but to sell the bike or transfer to me... i think need a lawyer... any bros out there can advice on this?

[aidan]

i think you can consult a bikeshop owner.

 

The best bet is to go straight to a lawyer.

 

But if his wife/children wanna claim the bike, then most likely they will get it, unless you can show proof that you have a share in paying/maintaining the bike.

[aeX]

i paid for the bike all these while.. i juz need him for cheaper insurance... haha.. now i gonan sell the bike.. but dunno the way to go abt doing it

[sICkbOi-dOt-cOm]

its funny lah these things all... owner dies... guarantor out of the picture....BUT when never pay installment.... guarantor will always bein the picture... give some credits to the guarantor lah...

[xyoshiki]

  |a|eX| said:

my uncle's bike is fully paid and i am the sub rider... when he pass away.. i like become the partial owner... i can still renew the insurance and road tax... but to sell the bike or transfer to me... i think need a lawyer... any bros out there can advice on this?

 

In accordance to INTESTATE SUCCESSION ACT (CHAPTER 146)

 

"child" means a legitimate child and includes any child adopted by virtue of an order of court under any written law for the time being in force in Singapore, Malaysia or Brunei Darussalam;

 

"intestate" includes any person who leaves a will but dies intestate as to some beneficial interest in his property;

 

"issue" includes children and the descendants of deceased children.

 

Rules for distribution.

7. In effecting such distribution the following rules shall be observed:

 

Rule 1

If an intestate dies leaving a surviving spouse, no issue and no parent, the spouse shall be entitled to the whole of the estate.

 

Rule 2

If an intestate dies leaving a surviving spouse and issue, the spouse shall be entitled to one-half of the estate.

 

Rule 3

Subject to the rights of the surviving spouse, if any, the estate (both as to the undistributed portion and the reversionary interest) of an intestate who leaves issue shall be distributed by equal portions per stirpes to and amongst the children of the person dying intestate and such persons as legally represent those children, in case any of those children be then dead.

 

Proviso No. (1) — The persons who legally represent the children of an intestate are their descendants and not their next-of-kin.

 

Proviso No. (2) — Descendants of the intestate to the remotest degree stand in the place of their parent or other ancestor, and take according to their stocks the share which he or she would have taken.

 

Rule 4

If an intestate dies leaving a surviving spouse and no issue but a parent or parents, the spouse shall be entitled to one-half of the estate and the parent or parents to the other half of the estate.

 

Rule 5

If there are no descendants the parent or parents of the intestate shall take the estate, in equal portions if there be two parents, subject to the rights of the surviving spouse (if any) as provided in rule 4.

 

Rule 6

If there are no surviving spouse, descendants or parents, the brothers and sisters and children of deceased brothers or sisters of the intestate shall share the estate in equal portions between the brothers and sisters and the children of any deceased brother or sister shall take according to their stocks the share which he or she would have taken.

 

Rule 7

If there are no surviving spouse, descendants, parents, brothers and sisters or children of such brothers and sisters but grandparents of the intestate the grandparents shall take the whole of the estate in equal portions.

 

Rule 8

If there are no surviving spouse, descendants, parents, brothers and sisters or their children or grandparents but uncles and aunts of the intestate the uncles and aunts shall take the whole of the estate in equal portions.

 

Rule 9

In default of distribution under the foregoing rules the Government shall be entitled to the whole of the estate.

 

 

1.Estate in this context can mean money, car, property........

 

2.If muslim....the above will not apply. Another set of rules will apply.

 

3. So if your uncle got children or wife, the bike should be theirs. If your uncle did not have children or wife, then the bike should belong to your grandparents. If.....too many ifs liao.....you should know your uncle better....

[aeX]

arh.. so now my auntie is the owner la.. so if i wan to sell the bike need my auntie's permission. lol

[xyoshiki]

  |a|eX| said:

arh.. so now my auntie is the owner la.. so if i wan to sell the bike need my auntie's permission. lol

 

May not just your auntie's permission. If let say only the motorcycle is divided accordingly and your grandparents are still surviving / or you got cousins by your uncle.....they are entitled to half of the estate also.

 

Alternatively, if your uncle got left behind a will, then another story liao.

 

Rule 1

If an intestate dies leaving a surviving spouse, no issue and no parent, the spouse shall be entitled to the whole of the estate.

 

Rule 4

If an intestate dies leaving a surviving spouse and no issue but a parent or parents, the spouse shall be entitled to one-half of the estate and the parent or parents to the other half of the estate.

[aeX]

yup.. grandparents are dead. left with spouse and son. by right the bike now belongs to my auntie. am i right to say that?