invested $$$ w/promissory note - co owner committed suicide

[miyoshi70@hotma]

What is the name of your state? California

Hello, myself & others invested in a company that bought foreclosed properties and resold them. I'm not sure the total combined invested, but I invested 60K with a promissory note to have this paid back in full. The man who bought & sold the properties, the owner of the company, recently committed suicide and his partner who handled the investor's (a friend of a friend) is giving us limited contact. He says the partner's widow apparently will not let him in the house which is where the office is located and this week we found the owner's house for sale. We're not sure what to do?

We were told there was infidelity - may be the reason for the suicide - don't know if there is any $$$???? Help

Any suggestions?
Can we place a lien on the property? Can that be done quickly?What is the name of your state?

 

[Dandy Don]

Filing a lien is NOT the way to go.

According to the promissory note, who is supposed to repay the money--the person or the company?

Contact the county courthouse probate court of the city where this man died to see if anyone has filed to open up probate on his estate, normally that is done within 30 days of the death, and if anyone has filed, you can request a copy of the will but more importantly find out the name and address of the executor. If no will has been filed, then consult a probate attorney immediately to find out how you can open up probate yourself as a creditor and be first in line to get paid if there are assets left, or your attorney can possibly show you how to go after the business if there are still assets there. Hopefully the man has assets but his widow may deliberately delay/stall on filing probate.

DANDY DON IN OKLAHOMA ([email protected])

 

[JETX]

Ignore 'dandy Dunce'... his post is full of erroneous information.

Run, do not walk, to a local attorney who can review your documentation and see what rights, if any, you have and who may be liable, if anyone. The KEY here is in the documentation.

 

[Zigner]

Ignore 'dandy Dunce'... his post is full of erroneous information.

Run, do not walk, to a local attorney who can review your documentation and see what rights, if any, you have and who may be liable, if anyone. The KEY here is in the documentation.

Actually, you're both right...and you both said pretty much the same thing

 

[JETX]

Actually, you're both right...and you both said pretty much the same thing

Sorry.... but NOT true.

'Dandy Dunce' told the OP to "Contact the county courthouse probate court of the city where this man died to see if anyone has filed to open up probate on his estate, normally that is done within 30 days of the death,"
Which is of course, NOT correct.

'Dandy Dunce' said "and if anyone has filed, you can request a copy of the will but more importantly find out the name and address of the executor.".
However, he provided NO information about how to file a claim on the estate if probate has opened.

'Dandy Dunce' said "If no will has been filed, then consult a probate attorney immediately to find out how you can open up probate yourself as a creditor"
If there is a family, it would be extremely unusual for the court to accept a creditor as the 'personal representative' for the estate.

'Dandy Dunce' said "and be first in line to get paid if there are assets left"
Of course that is ALSO not correct. Being 'first in line' means nothing.

 

[Dandy Don]

I stand by everything I said and no one cares about you posting just for purposes of argumentation.

He needs to check at the county courthouse first because if the widow has already filed there is already an executor to the estate and he would then know who to file his claim with.

YOU didn't provide any information about how to file either--that is why he needs to consult an attorney familiar with the laws of that state, which you are NOT familiar with.

It may be unusual if there is no family, but if the family does not file to open up the estate he will never get paid--thus he can at least open up the probate process to get it started.

Being first in line means that his claim will have priority if there are any assets in this estate. Do you think that debts are never paid? Gee whiz.

 

[JETX]

I stand by everything I said and no one cares about you posting just for purposes of argumentation.

Okay, lets get the FACTS here....
You are not an attorney.
You have NO legal knowledge.
Your entire 'experience' is that you locate unclaimed property then contact the person who has a right to that property... and steal a percentage of the 'recovery'.
You are a legal idiot... as proven by your inaccurate and error-filled posts.

Then, when you are 'called' on your idiocy... you lie and twist the facts to try to fit your post, just as you have in this case.

You NOW say, "He needs to check at the county courthouse first because if the widow has already filed there is already an executor to the estate and he would then know who to file his claim with."
Of course, that is full CRAP!!! You don't file a claim with the executor!!! You don't need the address of the executor!!!
You file a claim with the court, you nitwit!!!

 

[seniorjudge]

Ignore 'dandy Dunce'... his post is full of erroneous information.

Run, do not walk, to a local attorney who can review your documentation and see what rights, if any, you have and who may be liable, if anyone. The KEY here is in the documentation.

And, I might add, part of the documentation is anything you may have held as collateral.

Did you do that?

Did you get a deed of trust (or mortgage or whatever it is called in your state)?

Anything else as collateral?