Legal Question in Business Law in California

Re: money owed with a note

Mr. Stone's answer just put salt in your wound and does not fix your problem in any way. I am licensed in Nevada and California and practice actively in both.

You need to sue on the note or foreclose on the Note. If you believe that the $600,000 was somehow related to the purchase of the house or even used to make house payments, you can get a constructive trust on the house. I could file a lis pendens, which is a notice of a lawsuit relating to the ownership of the house and it will stop the sale.

If you are in Las Vegas, I can see you today or this weekend. If you are in California, we can do this by telephone or email. If this is good for you, you will need to email me your email address.

Re: money owed with a note

You need to file a lawsuit and get a judgment.

Re: money owed with a note

Disclaimer: the materials provided below are informational and should not be relied upon as legal advice.

Based on your desription, the note is already past due. Is your note secured or unsecured? You may need to bring a lawsuit to collect on it. If you believe the makers may hide their assets or may file fo bankruptcy, you may need to take some emergency measures in court. You can contact our office for a consultation. You should retain your own lawyer to protect your legal rights.

Re: money owed with a note

Get a judgment immediately and put a lien on the house. You may be able to prevent the sale. Contact me directly.

Re: money owed with a note

Yes, you probably do need help. If the 'note' was evidenced by a Trust Deed properly recorded, then you are somewhat safe, and have a chance of getting paid something from sale proceeds, assuming there is any money left after they pay off any 'superior' loans.

If it is simply a promissory note without a recorded Trust Deed, you'd better immediately file suit and seek a lis pendens and lien on the house to stop the sale or freeze the proceeds. That assumes the note was supposed to be an encumbrance on the house. If this is in SoCAl, and if you're serious about getting legal help, feel free to contact me. Don't delay taking action.

Re: money owed with a note

Yes, you probably do need help. If the 'note' was evidenced by a Trust Deed properly recorded, then you are somewhat safe, and have a chance of getting paid something from sale proceeds, assuming there is any money left after they pay off any 'superior' loans.

If it is simply a promissory note without a recorded Trust Deed, you'd better immediately file suit and seek a lis pendens and lien on the house to stop the sale or freeze the proceeds. That assumes the note was supposed to be an encumbrance on the house. If this is in SoCAl, and if you're serious about getting legal help, feel free to contact me. Don't delay taking action. If they sell and get the money before you do, you can predict the likelihood of you recovering your investment.

Re: money owed with a note

If your note is secured by a deed of trust, they will have to pay you. If not, you can whistle for your money. What lawyer drafted this note, and how was it you lent somebody $600K without any security?