Legal Question in Business Law in California

Can lender take my money ?

I had to sell my house. I borrowed money on which to live until end of probate.

I invested probate money and agreed (in writing) to pay back all monies upon my death from the investment.

Lender wants total monies NOW.

I cannot afford to give the total monies as I live on a percentage of my investment.

Can lender take my money even though it is in writing that the monies will be paid ?

Thank you.


Asked on 5/27/09, 8:38 pm

3 Answers from Attorneys
Chris Johnson Christopher B. Johnson, Attorney at Law

Re: Can lender take my money ?

It's difficult to say without seeing the terms of your agreement with the lender. If the money was borrowed from the probate estate without the court's or other beneficiaries' permission, you'll need to work out a satisfactory agreement with the beneficiaries, as the court will order that they get their money at the close of probate.

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Answered on 5/28/09, 12:53 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: Can lender take my money ?

Try to get an initial free consultation with a lawyer in your neighborhood, including review of the lender's demands and the agreement between the lender and yourself. Your facts as given are way too skimpy and disconnected for me form an opinion on the lender's right to demand payment or on whether you acted properly with respect to borrowing money from a probate proceeding, if indeed that's what you did.

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Answered on 5/28/09, 7:08 pm
Edward Hoffman Law Offices of Edward A. Hoffman

Re: Can lender take my money ?

That depends upon the terms of the loan agreement and whether you have breached them. This information is missing from your post.

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Answered on 5/27/09, 8:50 pm


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