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View Full Version : Is there a statute of limitations in canada re debt owed to an estate


okaytel
Nov 26, 2009, 06:19 AM
Is there a statute of limitations in Manitoba re debt owed by a sibbling to her deceased fathers estate. It has been 6 years since the father died and the estate has yet to be settled?

tickle
Nov 26, 2009, 06:26 AM
I don't think there is a statute of limitations in any Province of Canada governing repayment for this type of debt. Was there actually a will in place at the time of death ? Do you owe money to the estate because you borrowed from your father while he was still alive and there was a note in place ?

Tick

ScottGem
Nov 26, 2009, 06:51 AM
First, a Statute of Limitation applies to the ability of the creditor to use legal means to collect a debt. But a debt never expires.

Generally, if a debt is owed to the estate by an heir, the inheritance is just reduced by that debt. If the debtor's inheritance is not enough to cover the debt, then the balance may be owed to the estate so other heir's inheritance won't be reduced.