If I default on a personal note with a person who died, what can their heirs do to me?

Question

A formal note was drawn up, and both parties signed. My SS# is not on this document. I have no assets that they can attach other than my home.

Answer 1

Usually nothing because the person is dead. If you had collateral with that note. They could take that but would have to go to court to get it.

Answer 2

If an estate is open, the estate has the exact rights as the decedent had. Without an open estate, the heirs can do nothing. On a more practical level, whether anybody will do anything depends on the loan amount and the likelihood of collecting from you (do you have a job?). Whether the house can be attached depends on numerous factors: a) is it jointly held; b) are you thinking of declaring bankruptcy, etc. On a moral level, why are you contemplating ignoring your obligation?

Answer 3

Speaking from experience, depending on what the personal note was about, if the person that the note was written for is for like you're owing money to that person, the heirs cannot really do anything to you. But your best chance to do is to go to Probate Court and ask questions with the Probate Officer. They can answer any questions you have about the personal note and what can be done. That's the best thing for you to do and be legally free of it one way or the other.
Good luck!

Answer 4

They don't don't need your social security number. The estate can, and should, go after you to pay the note. They probably can place a lien on your house and should if the note is legit.

Answer 5

I don't know? If it's a written agreement signed and dated by both parties it is usually a binding document. If they come after you with an attorney - then you'll know that they mean business!

Answer 6

they can retrieve the funds for the estate through the courts

Answer 7

Your house is gone dear.