As an heir to the estate do I have the right to borrow against the estate even if my personal representative says he will not pay the lender?

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As an heir to the estate do I have the right to borrow against the estate even if my personal representative says he will not pay the lender?

I have taken out two small loans against my mothers estate. the probate attorney
and the personal representative sent a letter to the creditor saying they make no
representation of this debt. it is my understanding that as an heir, my personal
representative must carry out my wishes, and that I am well within my rights to
borrow against the estate. What are my legal rights?

Asked on December 4, 2016 under Estate Planning, Montana

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

No, you are not allowed to borrow against the estate: until the estate is distributed to the heirs and you get your share (or the entire estate, if you are the only heir) it is NOT your property and you cannot borrow against it. The fact that you anticipate getting it, that you should get it (less any amounts paid to creditors of your mother or the estate, or for the expenses of administration, etc.) does not change the fact that at present, you have no legal rights over or to it, and so cannot borrow against property that is not yours.


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