My father passed away suddenly last year. Three years ago, he loaned me 25k (about 21k outstanding) to finish building my house. There was a written loan agreement, signed by me, not by him. It was not notarized. My father's estate is in Florida. I am in Alabama, as is my house. The estate is to be divided equally among my father's 4 children. One brother thinks (as do I) that the balance of the loan should be erased. My other brother and sister have told my brother, to tell me, that they plan to have the estate attorney put a lien on my house, if I do not agree to forfeit my share of the estate . My share of the estate is only about 5 or 6k. I am not concerned about the money. It is the greedy behavior of my two siblings that upsets me. They all benefited from the generosity of my dad much, much more, than the value of the loan he made me. Can they put a lien on my house? And, if they can, and I do not agree to forfeit, am I eligible to receive my share of dad's estate?
I have read that ugly things happen sometimes when an estate is divided, regardless of the value of the estate. I guess what I have read, is true. Greed, it seems, is an ugly animal.
Thank you, in advance.
2 Answers from Attorneys
The estate can sue you for payment of the $ owed.
The Estate owns the debt. Your siblings can pursue their shares. They cannot get a lien against your house unless that is what the paperwork provides. They can get a judgement against you. You are entitled to your share of the debt and the balance of the Estate. Ugly things do happen in Estates. Hire an attorney