What can I do if I took a mortgage out on my home for my late brother’s business but his wife refuses to pay the loan?
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What can I do if I took a mortgage out on my home for my late brother’s business but his wife refuses to pay the loan?
Am I able to file a claim against his estate? He has several businesses (LLCs). What kind of lawyer would I contact to get advice?
Asked on January 29, 2016 under Business Law, Wisconsin
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
If you loaned him personlly and the loan was not repaid and is currently in default, you could sue the estate. If you loaned one of his LLCs, however, you can only sue the LLC--the owner of an LLC (or his estate) is not liable for debts of the LLC. Any litigator (lawyer who handles lawsuits) should be able to handle a case like this.
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