Owing someone money and the person dies before getting paid back

[Alton Turner Blackwood]

True story

An oldish lady in my area, who was renting a place from a guy I know, passed away a few weeks ago. The lady was living alone, had no kids of her own and wanted nothing to do with her own family (don't know what the reasoning for that was).

Now the reason I'm making this thread is because she loved my kids and my kids loved her. So much so that she would ask my kids to sleep over when we have to go somewhere. She'd spoil them more than either my wife or my parents do.

A little more about this landlord: I knew him for much longer than my wife or this aunty knew him for, and he has a very shady past. He's running a construction company now so he might have changed, can't say for sure.

My wife called me now to tell me that this lady's family found out that she lent him money and he hasn't paid back a single cent of it and its been more than a year already. Apparently she's been fighting in silence to get the money back.

What happens in a scenario like this? The person who's inheriting her estate is her nephew - I think the only person whom she actually cared about. So this money is obviously part of his inheritance.

We're talking 700k here folks!

 

[biena]

Is there a written contract ?

 

[Alton Turner Blackwood]

Is there a written contract ?

That's what I'm not sure of. I'm guessing with an amount like that there should be something on paper somewhere

 

[syntax]

Is there a written contract ?

this!

if there are no records of it, then you are stuffed

 

[syntax]

That's what I'm not sure of. I'm guessing with an amount like that there should be something on paper somewhere

you can bet he is not going to volunteer that information. I think her nephew is going to have to dig through all her files etc

 

[Alton Turner Blackwood]

What makes this worse is if I knew she was about to lend him that much money I would have stopped her! She was staying in a house, but sold it and moved into flats owned by this guy (same area) because the house was too big for only her after her husband died.

I can almost kick myself!!!

 

[ice_cubes]

ouch!

 

[Keegan]

It just goes to show, "You come into this world with nothing, and leave with nothing..." Only come lucky person, to pick up with you've left behind...
Hard to say, but if it was me. I'd let it go, if it's hard to get back the 700k,
I mean I didn't work hard for it... It would be nice to have, But it's a "bonus".

 

[blunomore]

True story

An oldish lady in my area, who was renting a place from a guy I know, passed away a few weeks ago. The lady was living alone, had no kids of her own and wanted nothing to do with her own family (don't know what the reasoning for that was).

Now the reason I'm making this thread is because she loved my kids and my kids loved her. So much so that she would ask my kids to sleep over when we have to go somewhere. She'd spoil them more than either my wife or my parents do.

A little more about this landlord: I knew him for much longer than my wife or this aunty knew him for, and he has a very shady past. He's running a construction company now so he might have changed, can't say for sure.

My wife called me now to tell me that this lady's family found out that she lent him money and he hasn't paid back a single cent of it and its been more than a year already. Apparently she's been fighting in silence to get the money back.

What happens in a scenario like this? The person who's inheriting her estate is her nephew - I think the only person whom she actually cared about. So this money is obviously part of his inheritance.

We're talking 700k here folks!

She lent her landlord R700 000?

Anyway, her estate will have a claim against him for the money.

 

[Alton Turner Blackwood]

It just goes to show, "You come into this world with nothing, and leave with nothing..." Only come lucky person, to pick up with you've left behind...
Hard to say, but if it was me. I'd let it go, if it's hard to get back the 700k,
I mean I didn't work hard for it... It would be nice to have, But it's a "bonus".

That's the flipside to this situation. The person who is inheriting had absolutely no idea he's the beneficiary until the executor contacted him

Like they say, you can't miss what you never had

 

[Alton Turner Blackwood]

She lent her landlord R700 000?

Anyway, her estate will have a claim against him for the money.

That's what I'm hoping, however with her dead the family is running around looking for the contract

 

[Keegan]

That's the flipside to this situation. The person who is inheriting had absolutely no idea he's the beneficiary until the executor contacted him

Like they say, you can't miss what you never had

Lol, exactly.

 

[ToxicBunny]

No written documentation, then the estate will have no claim...

If there is a written document, the estate will claim, and they can be ruthless.

 

[Maverick Jester]

She lent her landlord R700 000?

Perhaps it is due to the hour, but I'm still trying to wrap my head around a tenant loaning her landlord R700k? And she still paid rent?