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Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 55442
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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My husband has a note 600,000 loan with interest accrued he

Customer Question

My husband has a note for a 600,000 loan with interest accrued he made to his parents. It is secured by their house. He has passed away and they are saying they don't owe me the money because the loan was with him. It had a payback date of 5 days after the sale of their house. How do I protect my interests? Doesn't the note and lien transfer to me? Since I am no longer speaking to anyone in his family how will I know when the house is sold and how can i collect the money owed. Should the original note and deed be rewritten in my name as lender and lien holder
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.

Good afternoon Janice. My name is ***** ***** I look forward to helping you.

They could not be more wrong. The note becomes your asset and the lien continues on the property. Your husband's death does not terminate and relieve his parents of their obligation to pay the debt. What you want to do as part of the administration of your husband's death is to sign an Assignment of Note document as executor of the estate transferring the Note to yourself. Then, you want to record that Note in the real property records of the city/county where the property is located. They will not be able to sell the property and deliver clean title without the lien being released. So, when they go to try to sell or refinance the property, they will have to pay your note to release the lien.

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