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Elizabeth Prentice
Elizabeth Prentice, Attorney
Category: Business Law
Satisfied Customers: 174
Experience:  Legal counsel for multitude of businesses; Business Law Professor; Experience as In-House Counsel
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Over the last few years (3-4) I have loaned a friend 100k the

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Over the last few years (3-4) I have loaned a friend 100k the thought being when he sold some of his properties he would pay me. We have been friends for many years.
Two weeks ago he had a stroke and things don't look too good for him.
I have no note or deed of trust. Is there any type of lien I can file to protect my investment ?
You can file/record a lien only if you have a document he has signed a note, offer of compromise or deed of trust. You can also file a lien if you obtain a judgment in your local court. Unfortunately, your claim right now is unsecured. Your best option would be to discuss the debt with whomever has taken over his power of attorney. If you plan to request some type of note to be recorded, you will need to show his PoA proof of the amounts and that there was a documented intention by your friend to repay the debts. An email or letter he may have written, or the writing on the check may assist your claim.

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Customer: replied 4 years ago.

I can't file a mechanics lien ?

Unfortunately, no you may not file a mechanic's lien. The money you provided your friend must be documented by contract or receipt that it was specifically provided for labor or materials for the property. A mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. For example, if you purchased a fence to install it on his property and he signed a contract hiring you to install the fence, then he would be liable for the fence and your installation.

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Please remember to rate my answer. As you are aware, although the answer may not be what you wished to hear, please make sure to rate my answer as having answered your questions fully. If you have further questions, I would be happy to assist you. Please feel free to ask for me by name, should you have any other questions. It has been a pleasure to assist you!
Hi Randy:

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Elizabeth