Legal Question in Credit and Debt Law in California

My Mother loaned a friend 30k in 2006. She has a notorized promisary note stating balance to be paid in full upon close of escrow of borrowers primary residence. Borrower passed away in 2008. The primary residence has been Grant deeded to someone in the family. No monies have been repaid. At the borrowers wake, the will executor and her only son siad they would repay loan, and they never have. There was a Trust and it was intact until borrowers mother passed away in 2009. What steps should I take now to collect this money?


Asked on 8/08/10, 2:32 pm

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

In all probability the statute of limitations has expired and you are Stuck Out of Luck. Your Mom should have filed a timely claim against the borrower's estate.

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Answered on 8/13/10, 2:59 pm


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