Can I levy a piece of estate property to satisfy a claim against the estate?
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Can I levy a piece of estate property to satisfy a claim against the estate?
I filed a claim against an estate. The clerk of court denied the claim. An heir of the estate is involved with a lien on the property. Both owners have passed away since signing of Deed of Trust and Security Agreement. Do I have any rights in this situation?
Asked on January 19, 2012 under Estate Planning, North Carolina
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you have a trust deed securing a loan on a given piece of property, you already have a lien on the property and there really is no need for you to submit a claim to the estate as a creditor since it presumably is of record due to the trust deed assuming it is recorded.
If payments have not been made on the loan where real property is security for the loan via a trust deed, I would simply contact a real estate attorney and serve a notice of default of the loan secured by the trust deed on the estate's representative.
Your rights concerning the loan lie with the real property which is security for the loan as mentioned in the trust deed that you have written about.
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