How do i collect a loan from a deceased Florida resident ? Is there a time limit?

Asked 11 months ago - Stony Brook, NY

I have a loan agreement attached to a second mortgage in New Jersey. My brother the borrower lived in Florida and has passed away . His Florida home is being sold by his heirs . Is there a time limit on petitioning monies to the estate? Or is my only hope to wait until the house in NJ which is not being sold. Heirs are trying to obtain it in a short sale from the first mortgagor? How do I collect from the proceeds of the Florida home?

Additional information

I have had conversation with the heirs and verbally spoke about the remainder amount i am owed as my brother was sending a very small monthly check and his heirs have continued with the same amount each month. Is a verbal statement acceptable in estate settlements? Does that qualify me as a requested lender to his estate?

Attorney answers (3)

  1. Eric Edward Rothstein

    Contributor Level 20


    Lawyers agree

    Answered . Re-post your question on Avvo's Florida page. You likely need to file a claim in the probate court.

    I am a former federal and State prosecutor and have been doing criminal defense work for over 17 years. I was... more
  2. Peter J Weinman


    Contributor Level 18


    Lawyer agrees

    Answered . What happens in Florida stays in Florida. Contact an attorney in Florida with respect to the estate.
    Similarly, what happens in Jersey stays in Jersey. Speak to counsel in Jersey regarding the mortgage.

    Good luck.

    I may be guessing or not licensed in your state. No atty/client relationship exists.
  3. Cheryl Rivera Smith

    Contributor Level 20


    Lawyer agrees

    Answered . You will want to file a claim with the executor of the estate.

    Actively practicing law in Texas. Inactive licenses in Arizona and Georgia. All answers are general in nature... more

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