Legal Question in Real Estate Law in Utah

Promissory Note

I have a promissory note that becomes due on Nov 17, 2008 for the original amount of $8900 w/a $500 interest fee due then. The payor has not paid anything. This was a real estate land transaction and the buyer borrowed from me, the seller. There was not trust deed assigned with it. The buyer is not answering nor returning phone calls. What steps do I need to take to get paid? What are my options?


Asked on 10/20/08, 3:03 pm

2 Answers from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Promissory Note

You need to file suit to get a judgment, which judgment will become a lien against the property. You may also be entitled to foreclose against the property, depending on the actual facts. You may call for a free consultation.

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Answered on 10/21/08, 10:44 am
Mel Larew

Re: Promissory Note

I suggest sending a reminder letter, 2 copies, 1 certified, 1 1st class with proof of mailing. If there's no response, you might consider hiring a constable to deliver a demand for payment (perhaps the "official" nature of a constable or deputy sheriff serving a demand letter will have a psychological effect, even though it does not have a legal effect other than proof of notice.

If payment or arrangements are not forthcoming, without a security interest you must rely on the debtor's voluntary payment or sue for payment under the terms of the note. Without a security interest the debtor may be able to discharge the debt in bankruptcy so if you learn of any attempts to sell property or is considering bankruptcy you may want to consult an attorney in person about attempting to get a writ of attachment in connection with the legal proceedings.

Good luck.

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Answered on 10/20/08, 4:15 pm


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