I have a loan with my Dad... when he dies it will I presume be passed onto my Mum... but what happens when she dies?
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I have a loan with my Dad... when he dies it will I presume be passed onto my Mum... but what happens when she dies?
I have a loan with my father... when he dies can he pass the loan onto my brother... or does he have to consult the borrower(me) before doing this.
I imagine that when your dad dies, the loan will be called in by the executor of his estate, in essence, liquifying assets for disbursement to heirs. A loan doesn't get passed on to anyone.
Pretty much he can sell the loan to anyone. Because what that is doing is selling a contract so he could even sell the loan for five bucks the contract to repay then belongs to your brother. Though this does not happen very often and I really haven't heard of "passing" passing a loan on. But if your brother is executor of his estate and money is owed to the estate then you could be sued to repay the estate. I hope that makes sense.
I just noticed there are two threads open for this they need to be combined.
I have a loan from my father,based on a mortgage... the interest would have been 41,000 with a bank but he waived it kindly.Now because he is not happy with me he is trying to charge me the 41,000 and write the repayment into his will.He is trying to force me to sign a form saying I will comply with everything under threat of being written out of his will. Can I take him to court now and legally enforce the no interest repayments as it was agreed initially?
Do you have anything in writing?
I have statements showing the repayments are capital only.
I made an agreement with my father to repay a personal loan without interest.Now he is trying to add interest and change the agreement without my consent.How can I legally challenge him?
That doesn't mean that the loan was interest free. It only shows that the payments that were made were.
You refuse to pay the interest and at some point he either does or doesn't sue you and then the Judge hears both sides, decides which side is most believable and rules.
Or nothing happens and no one sues anyone.
Yes, oral agreements are binding if they meet certain conditions but, in Court, it comes down to which version is the most believable. And only you know that.
I was refusing to pay the interest on a loan from my father as I hadn't been paying interest for over 2 years then he decides the interest was deferred, only he hadn't mentioned that!
I carried on arguing there was no interest.He then starts to threaten me with disinheritance if I don't pay the interest. I carry on arguing that I haven't broken any agreement. He also informs me the interest will be passed on to his estate when he dies.
I would have to pay the executor of his will the money... but he refuses to tell me who that will be! I say no way.
He then threatens me that if I don't sign a document saying Ill obey everything written in his will without hindrance that hell disinherit me.
I refuse to sign a document I haven't seen.
So now he's disinherited me. I think wrongfully. I broke no laws.
How do I challenge the "Unlawful disinheritance", and when?
What is unlawful about it?
First he may put into his will and take out of his will anyone he wants, I have been in and out of my parents will several times over the years.
The laws vary by location, in some places a child has to be given at least a dollar and mentioned in the will but he can take you out of his will or at least cut you out of the majority anytime he wants.
There is nothing you can do about it, till he dies, and then if you are out, you hire a probate attorney and fight the will in court.
Quote:
Originally Posted by lawrence23
Your father owes you nothing. No one is ENTITLED to inherit. If the Will is prepared properly according to State Law it will be bullet proof.
You can always protest at the time of probate but you will spend a lot of time and money and - as I said - if it's a legal Will, you will lose.
If your father wants to leave his entire estate to his cat there is nothing you can do about it.
And here's a thought - maybe if you just posted once it would help everyone, you included.
Hello l:Quote:
Originally Posted by lawrence23
Wow, Dude. Let's hope it wasn't a large sum of money that you'll NEVER get... I can't believe you talked yourself OUT of an inheritance...
As you've discovered, you don't have to break a law in order to be DIS-inherited.
DUDE!
excon
Quote:
Originally Posted by excon
This is called (in legal terms) "I won the battle but I lost the war."
Judy and Excon are correct. He owes you nothing just being your father. If he decides to disinherit you there is nothing legally you can do to stop him as this is not illegal. Dad seems to be a tad upset about the interest. Why not just pay it and get over this hurdle?
Quote:
Originally Posted by twinkiedooter
Read the 4 or 5 other threads - when OP doesn't like the advice he changes things a little bit and posts someplace else. Good background reading, though.
I think OP has turned obsessive about this.
I've merged your threads since all your posts have to do with the same issue. Please post any follow-up to this thread using the Answer This Question options.
As noted, there is no such thing as an unlawful disinherit. A person has the right to control who will inherit his estate.
Assuming you are in the US or Canada, your dad can cut you out of his will anytime they want,
For any or no reason at all.
You can not sue them over this, law suit would be thrown out, and you could not even get an attorney that would do it, most likely, I guess some will try anything if you are paying them.
But by trying to sue, you merely make things worst, you need to just go away and have no contact for a while and let it cool down, or start kissing up,
Rich people use their money to make others kiss up all the time,
So you learn to forget about there money ( it is not yours anyway) and live your life, or kiss up and play their gams for their money
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