[Lg178]

My mother while living incurred and took out a line of credit in Ontario Canada (120k) and entered into a partnership with a companion in building a house in Dominica. The line of credit was secured against her condo in Ontario.

She passed away and now the estate has pay off the line of credit by selling the condo.

The foreign house (property) in Dominica is not fully constructed but the funds if $120k was used to get it at the stage it is at.

Her companion signed a promissory note indicating that upon sale of the property the first $120k of proceeds will pay off the estate debt and the remaining proceeds will be split to the children 50/50.

How do I get a lien on that property in that country? Currently, the unfinished house is for sale but the estate would like some security that the borrowed $120k would be paid back.

Any professional help will be appreciate.

[joypulv]

Take the companion to civil court where you live to get a judgment, then hire a lawyer in Dominica to file the lien for you. You can't just walk into the dept of deeds in Dominica with the promissory note and get a lien.
What are the chances of it selling unfinished, do you know? What do you know about the real estate market there? I see an unfinished house in Anse sol-dat for $304K?

[Lg178]

Take the companion to civil court where you live to get a judgment, then hire a lawyer in Dominica to file the lien for you. You can't just walk into the dept of deeds in Dominica with the promissory note and get a lien.
What are the chances of it selling unfinished, do you know? What do you know about the real estate market there? I see an unfinished house in Anse sol-dat for $304K?

The chances of selling it unfinished is low. The companion claims he can finish it but I don't know where he will get the funds. The house you saw is the one. It could be a good investment for someone but it is geared to a specific market. One who is looking for solitude.


At this stage we just want the debt to be paid.

[joypulv]

The listing claims it will be finished. The seller needs to be realistic and not think he can draw people in with promises he can't keep. Huge risk if he thinks he can accept an offer and then run around finishing it on 30 day credit. Nobody is foolish enough to go for that, and he'll just end up with a low price and a commitment to finish, thereby losing more than if he sold it as is.
He needs to drastically reduce the price and sell it unfinished.
Any good real estate agent will know that. Hopefully that will happen.

You need that judgment NOW, before it sells. Once it sells you have to sue him for the proceeds if he doesn't give them to the estate, and you could win but he could just refuse to pay, and it will be 100 times more difficult than a lien. And he has no vested interest in any of this, not profiting at all, from the way you state it.

[AK lawyer]

Where is Dominica? You mean the Dominican Republic, perhaps?

About the only way of getting a reliable answer is to consult with an attorney in that country.

[Lg178]

The listing claims it will be finished. The seller needs to be realistic and not think he can draw people in with promises he can't keep. Huge risk if he thinks he can accept an offer and then run around finishing it on 30 day credit. Nobody is foolish enough to go for that, and he'll just end up with a low price and a commitment to finish, thereby losing more than if he sold it as is.
He needs to drastically reduce the price and sell it unfinished.
Any good real estate agent will know that. Hopefully that will happen.

You need that judgment NOW, before it sells. Once it sells you have to sue him for the proceeds if he doesn't give them to the estate, and you could win but he could just refuse to pay, and it will be 100 times more difficult than a lien. And he has no vested interest in any of this, not profiting at all, from the way you state it.

I agree. He has to sell as is at a lower price. Unfortunately, we can't sell it because he and mother are on the deed.

Thanks for your info. We are going to have to get a judgement.