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What happens when a promissory note was signed by two people and one died?
Wiki User
∙ 15y ago
If you co-signed a promissory note and the other co-signer died the creditor will expect you to pay the debt. You can try to file a claim against the estate of the dedecent for half of the amount owed. However, if unsuccessful you will be responsible to repay the full amount due.
Wiki User
∙ 15y 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?
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.
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The note is no longer valid because it is a personal promissory note.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.
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Would you still have to pay back a loan if the other person died that signed the promissory note with you?
Sure...even the one that died has to pay back the loan! Thats what a persons estate does...it keeps him alve for business purposes while it settles his affairs. Death is no excuse to upholding an obligation to pay....and what should happen otherwise? The goods go to someone else?
How do you collect on a promissory note from someone who died?
You must file a notice of lien with the Probate Court against the assets of the deceased's estate.
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If someone signed the title to his vehicle over to his brother before he died is the vehicle his or does it belong to the deceased under age children?
That depends on which party died. If the person who died is the one who signed the title over, then the vehicle belongs to the brother. If the brother who received the signed title is the one who died, then the vehicle belongs to his heirs or estate.
