Legal Question in Credit and Debt Law in California

Re: personal loan

The more important question is what is the legal position of person number 2? If she has never actually shown you any documents that give her the authority to enforce the debts of her dad's estate (if he really is her dad) then you need to demand proof showing she is the administrator or executor of her dad's estate. There is a good chance that her dad may have died intestate (without a will or trust) and that no probabe has been opened. Until it is, you owe this person nothing, and arguably owe no interest. Also, you may be able to assert a claim against person number 2's estate to enforce a promise he made to you. Now that he is dead, you will just have to collect from the administrator of his estate. So you may just have to send your own demand letter to the daughter. Tell her to prove differently.

Re: personal loan

It depends on whether you made payments until the time of person 2's death and whether you had a written agreement. The statute of limitation in California is 4 years on a written agreement, 2 years on an oral agreement, and the statute is tolled (i.e. the clock is stopped) while payments are being made. So, the time begins running from the date your last payment became due and was unpaid. Also, the daughter should provide you with proof that she is the estate's administrator. Good luck.

Re: personal loan

It depends.

If the daughter inherited the assets of Person 2, then the daughter is entitled to enforce the note.

However, you don't mention the date of last payment on the note. If it was longer than four years ago, then the statute of limitations might bar any action against Person 1.

But the note may be structured such that this defense may not apply. I would need to see the note and know more about the underlying facts.

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