Legal Question in Real Estate Law in Iowa

My dad's sister-in-law is requiring my dad and his siblings to pay the remainder of a mortgage taken out by my dad's deceased brother. The mortgage was for land that he bought from his siblings, the land was inherited by the siblings when their father died (so he was buying out his siblings). The remainder of the mortagage was approx. $15,000 - $17,000 and was paid by his widow. Now, 19 years after his death she is bringing up this mortgage, none of the siblings knew of this mortgage until this last year. She says that the siblings are liable for this amount. I guess there has been 1 ruling in IA that did say the remaining people involved were liable. My question is, when was this ruling, if it was many years ago cvould things change and would the law of laches come in to play since his death was 19 years ago and it is now being brought to the siblings attention? It doesn't seem like the siblings should be responsible for his mortgage.

1 Answer from Attorneys

Related Questions & Answers

More Real Estate and Real Property questions and answers in Iowa

Looking for something else?