Legal Question in Credit and Debt Law in Kansas

Under Kansas statute and precedent, when a promissory note has been drawn between two parties for 5 years and no interest, what happens when the promisee (the one who owes the debt) dies two years after the note was drawn. That party had only begun to make payments (a total of two, $1000 each) in the preceding months before death. Is the Estate then required to pay the remaining debt immediately, or can the debt be continued to be paid at the $1000 per month amount by the Executor of the Estate?


Asked on 8/13/10, 6:26 pm

1 Answer from Attorneys
Anthony Smith LawSmith

This questions touches on possible malfeasance on the part of an executor, if handled wrong. It is not unheard of for a Payee (noteholder) and an estate or heirs making a deal to continuing aprevious note payment schedule or create anew agreement to resolve an asserted debt. Neither the estate nor the Payee are required to do so, absent a determination by the probate Court. But to do so improperly, could make an executor subject to claims by the heirs, devises or other creditors of the estate. Therefore, it is best to consult with the attorney representing the executor as to the specific application to a specific estate. Do not act, without further legal advice, in this matter, based solely upon a general answer to a generalized posting in this forum. The estate's attorney can explain the many variables that effect such an alleged debt.

Good luck

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Answered on 8/19/10, 2:48 pm


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