The deceased's estate acquires the power to enforce, or the responsibility to pay, the promissory note.
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.
Yes, their 'estate' is still owed the money.
You are still respnsible for paying should the borrower die.
If the student dies, the loan dies with him/her. It's all in the fine print of the Master Promissory Note.
after the camp spider is in a car accident and dies.
What happens when a partner dies in business depends on the contract. Many people may write a contract that replaces a partner with a family member of the partner.
Their going to come after you to pay the debt. YOU CO-SIGNED! That means in the event that the primary borrower can not or does not pay the loan you are responsible to pay that loan. There is no way around that.
He dies, he stops living.
the rest will live in it simple
nothing happens
Their estate is held by the court and people are invited to make their case for a part of that estate.
He dies.