Promissory Note HellI have a promissory note on a business associate of mine. I lent him money to invest in Bail Bonds. He had been making ...

Question

Promissory Note Hell

I have a promissory note on a business associate of mine. I lent him money to invest in Bail Bonds. He had been making payments as planned.

Everything was great then he passed away in a fatal car accident. I have the notes signed by him and that is all. I am afraid that the family will not return the money. Is there a way to secure my initial investment? Can I put a lien on some of his real estate or the real estate that is in his wifes name?

Answer

Re: Promissory Note Hell

No, you can't put a lien on his property. You should hire an attorney to make a claim against his estate.

Answer

Re: Promissory Note Hell

Liens arise after a court judgment for money or other relief is granted, and the judgment is recorded. Under the Constitution, our right to due process of law is guaranteed, so you have to file a suit or legal action in the court, follow the established procedures, and get a judgment.

In a probate, you can file a Notice of Claim, file a Demand for Notice if no probate is yet filed, and may have a claim against beneficiaries who recieve property automatically, such as by joint tenancy, but do not pay creditors.

See an estate attorney at once. Our office offers free, no obligation initial consultations by calling 480.835.1500.

Best regards.