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Your brother actually signed a promissory note for money he had illegally taken?
Has this issue been to court for any reason, such as a civil lawsuit or criminal prosecution?
No it hasn'tbeen to court or civil lawsuit or criminal prosecution. He made the promissory note out for 67000.00....I had figured it slightly over 70000.00....guess he knew the exact amount. Since I live in Texas, when I found out what he had done....actually fell upon it when I went home to visit mom.....he told me he wished I hadn't told her. I had borrowed 1500.00 from my mother to buy two chihuahuas and when I went home to Canada I printed out her savings account to see how much I owed her due to the rate of exchange. To my shock her account went from over 70000.00 to 253.00 in about 7 months. I first asked her if she had invested the money somewhere....and how much did she think she had. Apparently he stopped her statement from going to her in January. I used to work audit for the Royal Bank so I sat down with her chequing and savings statements and figured it all out. I called him and he readily admitted to taking it. She had put him on her account the October before so he could pay bills for her.....I told her then I didn't think it was a good idea. I have been on her account for...gosh...maybe fifteen years.....and have always asked her if I could borrow money when I needed it. This was the biggest shock of my life....and unfortunately it changed my holiday home into a big nightmare. Before I left to go home I demanded the bank card, and told him to get a promissory note which he did. He put a clause in it that if anyone found out about it the note would be void....however, mother never signed in agreement to that. I have the notorized promisory note here in fear that my brother would look for it in her home and take it. He also was holding bonds for her.....I demanded those also. However, I don't know if he cashed any since he knew right off the bat when they could be cashed.
This has caused a big riff in our family.....he has instructed his family not to talk to me....I guess because not even his wife knows what he did. His home is apparently worth 500000.00 in Ottawa and he used the money to pay off CRS and credit cards...amongst other miscellaneous things. I have contacted the Elder Abuse and Fraud unit of the Ottawa police and they have instructed me that she has to make the complaint....which she won't. Please help me to figure out how to handle this situation.....Shelley
When did he sign the promissory note?
What payments are described in the note?
Has he made any attempt to pay yet?
It says when he sells his home. He has paid 50.00 so my mother says....and it doesn't seem to matter what threats I make he just let's it roll off his back.
He signed the note in October of 2010....before I left to come back to Texas
I was hoping for something more definitive than "when he sells his home." Is there at least a deadline on the sale of the home? Is there any expectation of him selling in the near future?
A promissory note, in and of itself, does not entitle you to a lien against the home. To obtain a lien, you would first need to obtain a judgment. Meaning, you would need to file a civil lawsuit against him over the promissory note.
If I'm understanding the situation correctly, he only recently provided the promissory note. Further, the note only indicates that he will pay the monies when he sells his home. Candidly, this does not leave you with a compelling lawsuit. My thought, unfortunately, is that the court would rule against you as your brother has not yet violated the terms of the note.
So, as I see it, your options are to wait it out for him to sell the house or file a lawsuit that you will likely lose in the hopes of trying to force the issue.
Please let me know if anything requires clarification.
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