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A personal promissory note was drawn between two individuals in the state of Texas and the lender since died. How long does the executor have to enforce the promissory note?
Wiki User
∙ 16y ago
A personal promissory note ceases to be valid after the person has died. The law differs from state to state so it is best to check with the probate court or an estate attorney for details.
Wiki User
∙ 16y ago
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A personal promissory note was drawn between two individuals in the state of Texas and the lender since died. How long does the executor have to enforce the promissory note. Is it still valid?
The note is no longer valid because it is a personal promissory note. If you want to honor it, that is your decision.
What is the difference between executor and personal representative?
An executor is the person appointed by the court to carry out the provisions in a Last Will and Testament.A personal representative has two meanings: a person who manages the financial affairs of another person or the person appointed by the court to settle an estate. The court-appointed personal representative is an executor if there is a will or an administrator if there is no will.
Difference between bill of exchange and promissory note?
difference between bill of exchange and promissory note?
What is the difference between co-executor and independent co executor?
What is the difference between an independent co-executor and a co-executor
Where could I find a printable agreement form for a personal loan between friends?
You can find printable agreement form for a personal loan between friends at www.free-legal-document.com/promissory-note.html . Another good site is wareseeker.com/free-loan-agreements-between-friends/
International bill of exchange?
International Bills of exchange or IBOE (promissory note or certificate of deposit) are similar to checks and promissory notes. They can be drawn by individuals or banks and are generally transferable by endorsements. The difference between a promissory note and a bill of exchange is that this product is transferable and can bind one party to pay a third party that was not involved in its creation. If these bills are issued by a bank, they can be referred to as bank drafts. If they are issued by individuals, they can be referred to as trade drafts. The only difference between a promissory note and a bill of exchange is that the maker of a note pays the payee personally, rather than ordering a third party to do so. When a bank is the maker promising to repay money it has received plus interest, the promissory note is called a certificate of deposit (CD). mtnbgAThotmailDOTcom
What is the relationship between personal responsibility and college success?
There is a great relationship between personal responsibility and college success. Individuals who are personally responsible tend to be successful in college.
What is the difference between a Secured Promissory Note and a Promissory Note?
A secured promissory note has collateral attached - usually an item/items of value or a deposit. If the note is not fulfilled, the creditor can seize the collateral as payment. An unsecured note has no collateral attached.
What is the minimum allowable interest rate on a promissory note between two private parties in the state of Florida?
Minimum interest upon promissory note in wisconsin Loo
Are executor fees taxable income if the deceased was a family member and the executor was also a beneficary?
There is a distinction between money the executor receives as compensation for administering the estate and money the executor receives as an inheritance. The fees are taxable income, the inheritance is not.
Can a person be an executor to the estate he owes money to?
Yes. Nothing prohibits a testator from choosing a person as his or her executor simply because there is a debt between them. In the matter of who is to be the executor, courts go to great lengths to honor the wishes of the deceased. The beneficiaries will be able to challenge in court the manner in which the executor handled repayment. An executor might be held to a higher standard of proof if he or she disputes the claim in full or in part than any other creditor might be held to. In other words, although it appears that there is a conflict of interest in the executor handling his/her own claim, there are remedies available to beneficiaries to ensure proper handling of that claim that do not thwart the decedent's personal choice of the person to be the executor.
How can the issuance of a Promissory Note between friends be considered a sale of unregistered securities?
Check with the SEC
