Full question:
We sold a house,held the lien, (balloon note) which would have been due in Dec., 2011. Buyer died. What is necessary to get it back in our name?
- Category: Wills and Estates
- Subcategory: Executors and Administrators
- Date:
- State: Florida
Answer:
When a person dies, the executor of administrator of the estate is responsible for handling claims against the estate. We suggest calling the circuit court in the county where the buyer resided to obtain claim forms.
One of the primary purposes of probate is to ensure that the decedent’s debts are paid in an orderly fashion. The personal representative must use diligent efforts to give actual notice of the probate proceeding to "known or reasonably ascertainable" creditors. This gives the creditors an opportunity to file claims in the decedent’s probate estate, if any. Creditors who receive notice of the probate administration generally have three months from the filing of the notice of administration to file a claim with the Clerk of the Circuit Court. The personal representative, or any other interested persons, may file an objection to the statement of claim. If an objection is filed, the creditor must file a separate independent lawsuit to pursue the claim. A claimant who files a claim in the probate proceeding must be treated fairly as a person interested in the probate estate until the claim has been paid, or until the claim is determined to be invalid.
The legitimate debts of the decedent, specifically including proper claims, taxes, and expenses of the administration of the decedent’s probate estate, must be paid before making distributions to the decedent’s beneficiaries. The Court will require the personal representative to file a report to advise of any claims filed in the probate estate, and will not permit the probate estate to be closed unless those claims have been paid or otherwise disposed of.
Please see the following FL statutes:
733.703 Form and manner of presenting claim. —
(1) A creditor shall file a written statement of the claim. No additional
charge may be imposed by a claimant who files a claim against the estate.
(2) Within the time allowed by s. 733.702, the personal representative
may file a proof of claim of all claims he or she has paid or intends to
pay. A claimant whose claim is listed in a personal representative's proof
of claim shall be deemed to have filed a statement of the claim listed.
Except as provided otherwise in this part, the claim shall be treated as if
the claimant had filed it.
733.710 Limitations on claims against estates. —
(1) Notwithstanding any other provision of the code, 2 years after the
death of a person, neither the decedent's estate, the personal
representative, if any, nor the beneficiaries shall be liable for any
claim or cause of action against the decedent, whether or not letters of
administration have been issued, except as provided in this section.
(2) This section shall not apply to a creditor who has filed a claim
pursuant to s. 733.702 within 2 years after the person's death, and whose
claim has not been paid or otherwise disposed of pursuant to s. 733.705.
(3) This section shall not affect the lien of any duly recorded mortgage
or security interest or the lien of any person in possession of personal
property or the right to foreclose and enforce the mortgage or lien.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
