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CalAttorney2, Attorney
Category: Legal
Satisfied Customers: 10244
Experience:  Civil litigation attorney for individuals and businesses.
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I bought a diamond ring from my best friend, I paid 4,000

Customer Question

I bought a diamond ring from my best friend, I paid 4,000 with a balance of 6,000. We have a written and signed contract between us with guildlines on payments. I have it part of my estate in case I died my friend would recieve her money. It was not notarized. My friend recently was diagnosised with cancer and was given a short time to live. does this contract become void at her death? we live in kentucky. I was ging to pay on the funeral out of my love for my friend, please advise
Submitted: 1 year ago.
Category: Legal
Expert:  CalAttorney2 replied 1 year ago.

Dear Customer,

Thank you for using our forum. My name is ***** ***** I hope to assist you today.

I am sorry to learn of your friend's situation.

If she passes away before the installment payments are made in full, her estate is entitled to the remainder of the payments (unless there is some clause or provision written into the contract forgiving the remainder of the debt).

This means that the estate can collect the remaining debt on the written contract under the same payment terms as you are currently making.