My father-in-law died in 2007 with a will leaving everything to his wife, who died in 2008 without a will and no executor. They had four adult children. The only estate they really had was a small property with a mobile home on it, and they were making monthly payments to a realty company for that. When she died, three of the four adult children had no interest in the property or being executor (they had lost contact with the fourth, who still may not even know her mother has died) and the property reverted back to the realtor, with no inheritance to any of the four children...and no known issues. Until today, when we received notice of legal action by the owner of the realty company against all four children and their spouses. The action is seeking payment of the full remaining amount that had been owed on the property plus interest (for a total over $9000) on the grounds that there was a default of the original loan. As far as I can tell the default occurred with the death of the mother, and none of the children co-signed for the loan. Would we have any potential responsibility for this loan? My wife and I live in Nebraska and the suit was filed in Kentucky, so we do not have ready access to a Kentucky attorney.
One other item of interest, the date of the loan was March 23, 1986, yet in several places in the court papers it refers to an "unrecorded" loan made to the parents on "March 23, 2009"...almost a year after the last parent died! Are these typos or was this some legal maneuvering on the part of the realty company?
Thank you in advance.
One other item of interest, the date of the loan was March 23, 1986, yet in several places in the court papers it refers to an "unrecorded" loan made to the parents on "March 23, 2009"...almost a year after the last parent died! Are these typos or was this some legal maneuvering on the part of the realty company?
Thank you in advance.
