My Dad, of Watertown, SD, died recently and was preceded in death by my Mom a couple years ago. Dad's major, and only worthwhile, asset was his house. My brother, two sisters, and I each own 1/4 of the property, valued at $168,000 by the city assessor. On the title there is a claim by a Mr. Abrahamson, an attorney from Omaha. My Dad & Mom had given a promissory note that had a term of 120 months, backed up by their home, for $39,500 to Mr. Abrahamson's group as consideration for a down payment on an apartment
complex located in Omaha, Douglas County, NE, that Dad & Mom bought on Sept. 30, 1986. The promissory note was recorded, but I am not sure where. My Dad told my sister that the claim had been satisfied, however, when our local attorney wrote to Mr. Abrahamson to request that they send a letter documenting that the claim had been satisfied, they never responded. That has been three weeks ago and we'd like to sell the house to satisfy a multitude of debts that Dad had accrued because of his illness. You can no longer collect on a promissory note after 5 years in NE and 6 years in SD, but our attorney says they have 15 years to collect and 15 years to file for a judgement. Does the claimant have a valid claim so long after this debt was incurred?