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Will assets

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noodles911

Junior Member
What is the name of your state (only U.S. law)? Virginia
Myn sister "loaned"me some funds,using my assets in the family will as collateral.
Will this hold up in court,or is this just considered a personal loan?
Is it possible to "buy" someone out of a will?
 


anteater

Senior Member
What exactly are you trying to get at?

Your sister made you a loan. Presumably, the "contract" provides that you pay it back.
 

curb1

Senior Member
I agree with anteater. You are not telling the whole situation. firstly, who cares (at this stage) if it will hold up in court. Why would it have to go to court unless you are not planning on paying your sister back? Why wouldn't you pay her back? What does the executor say about this? Has this person (who has the will) died?
 

tranquility

Senior Member
Since a person has no heirs until they're dead, there cannot be a security interest against a potential inheritance. That does not mean the OP does not owe the money. He does. It's just a technical argument which may make a difference in some situations.
 

noodles911

Junior Member
I agree with anteater. You are not telling the whole situation. firstly, who cares (at this stage) if it will hold up in court. Why would it have to go to court unless you are not planning on paying your sister back? Why wouldn't you pay her back? What does the executor say about this? Has this person (who has the will) died?
My sister "loaned"me the funds,using a portion of my inheritance as collateral,and I signed a written contract to this effect. My mother is deceased,and the property is about to be sold
I have every intention of paying back the funds,but my sister is of the impression that she can use this "contract" to confiscate my part of the property.
I was of the impression,the contract would not impede me from receiving funds from the inheritance;it only requires that I repay the loan,after receiving them.
That is the truth,and the whole truth!
 
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seniorjudge

Senior Member
...
I have every intention of paying back the funds,but my sister is of the impression that she can use this "contract" to confiscate my part of the property.
...


If you are in default of the loan payment agreements, then that is exactly what will happen.
 

curb1

Senior Member
Noodles911,
Why wouldn't you repay the loan with your part of the inheritance? That was wise of your sister and you should comply. And, give her a big thanks for making the loan available.

You said, "My sister "loaned"me the funds,using a portion of my inheritance as collateral,and I signed a written contract to this effect."

End of story, subtract loan balance from your inheritance and be done with it. Don't start a family squabble over something as clean as this.
 

tranquility

Senior Member
There cannot be a security interest in something which is not yours. If the loan was made before the death which gave you an inheritance, then the money cannot be removed before you get it. If the loan was after the death, then it can be removed before you get it. The only difference gets down to how much the OP plans on messing with the person who lent him money.
 

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