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What happens to a promissory note when the person it is endorsed to dies?
Wiki User
∙ 14y ago
Let me get this straight, the borrower and lender enter into an agreement and sign a promisory note to secure it. The lender dies, and the debt has not been fully repaid.
Easy, the borrower still owes the estate of the deceased lender.
Wiki User
∙ 14y ago
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What happens when a promissory note is signed by two people and one dies?
The deceased's estate acquires the power to enforce, or the responsibility to pay, the promissory note.
What if the person dies and you have a promissory note with them do you still have to pay?
Yes, their 'estate' is still owed the money.
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