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I owe a president of a corporation 30,000 for a secured loan. He died. Daughter wants to assume the loan in her name. Is that legal?

1 Answers. Asked on Mar 14th, 2017 on Debtor and Creditor - Florida
More details to this question:
Loan was payable to the Corp. President. He told me if he died the loan would be forgiven, (Not in writting) His only heir, his daughter says she wants the loan changed to her personal name so I have to pay her. This loan is part of security for a liquor loan in Florida.
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Answered on Mar 14th, 2017 at 11:16 AM

The 'ol "he said if he died I don't owe anything" story will simply not get far here even if it were true. This will revlve around the terms and condition of the loan paperwork and you may well simply owe the money to the estate. You may want to hire a lawyer and see if you can negotiate a lesser amount paid in settlement if possible. 

All responses are NOT to be considered legal advice nor to be relied upon in any as such nor to establish any form of attorney/client relationship. Opinions expressed are solely informational and not a substitute for proper legal advice provided by a properly retained after thoroughly researching the issues presented.

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