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What happens to the HP agreement in the event of the death of the hirer?

April 26, 2017Agreement death event happens hirer HP

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What happens to the HP agreement in the event of the death of the hirer?

1 Answer

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If the personal representative has obtained a Letter of Administration or Grant of Probate, the rights, title and interest will be transferred to the personal representative who will take over the responsibilities of the hirer. Otherwise, the banking institution will repossess the motor vehicle after defaults in four successive monthly instalments.