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Loren, Attorney
Category: Legal
Satisfied Customers: 34516
Experience:  30 years experience representing clients.
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Please advise, what happens to a loan when the lender dies?

Customer Question

Good day Pearl ... Please advise, what happens to a loan when the lender dies?
JA: What state are you in? It matters because laws vary by location.
Customer: I live in the state of Texas, the lender lived in the state of Florida
JA: Has anything been filed or reported?
Customer: I'm unsure, her son is threatening to file Criminal charges
JA: Anything else you want the lawyer to know before I connect you?
Customer: I fully intend to pay back the loan, I just need to know if her son has a legal right to file charged against me as he wasn't a part of the arrangement between his mother and I.
Submitted: 3 months ago.
Category: Legal
Expert:  Loren replied 3 months ago.

I am Loren, a licensed attorney for over 30 yrs. Thank you for your patience as I review the question. I will post my response shortly.

Expert:  Loren replied 3 months ago.

The loan is an asset of the estate and passes to the heirs who may enforce collection.

Expert:  Loren replied 3 months ago.

The estate would have to go through probate for the obligation to pass from the estate to the heirs.

Expert:  Loren replied 3 months ago.

In other words, until a representative is appointed for the estate, you have no one to make payments to.

Expert:  Loren replied 3 months ago.

Are you online with me?

Expert:  Loren replied 2 months ago.

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Thank you!