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Property Loan Dispute Resolution
Summary
If a co-owner takes a loan on shared property without your consent, it may be considered fraudulent. In New Jersey, if a will was not probated, the estate may not be properly settled. You can petition the court to appoint an administrator and request that assets be placed in escrow until the loan issue is resolved. Consider legal action to contest the loan and protect your interests. Mediation or filing for an injunction are alternative strategies if the judge does not agree to escrow the funds. Consult with a probate attorney for personalized advice.Full Conversation
Jennifer
Hi Jennifer! Nice to meet you. Could you please let me know your location and give me a brief description of the legal issue you're facing? This will help me provide you with the most relevant information.
I am directly named in my grandmother's will my aunt owns half the property I own the other half she took a loan out on the property without notifying me is this fraudulent
Jennifer, that sounds like a serious issue. Property co-owners usually need mutual consent to take out loans using the property as collateral.
- Fraud may depend on the specifics of your jurisdiction's laws.
- Breach of Fiduciary Duty might also apply if your aunt had a legal duty to act in your best interest.
Are you based in the United States? If so, which state? This information helps tailor the advice to your local laws.
- Fraud may depend on the specifics of your jurisdiction's laws.
- Breach of Fiduciary Duty might also apply if your aunt had a legal duty to act in your best interest.
Are you based in the United States? If so, which state? This information helps tailor the advice to your local laws.
So I am named as beneficiary my aunt is not named in the will the will should have been probated 10 years ago by one of my two aunts who had passed away and I was never informed of the will I am just finding out recently and she had taken the loan out as a HELOC loan in the state of New Jersey
It looks like you may have a strong case due to potential fraud and breach of fiduciary duty. Here are some points to consider:
- Probate Issues: If the will was not probated, the estate wasn't properly settled.
- Fraudulent Loan: Taking a loan without notifying a co-owner can be considered fraudulent.
- Statute of Limitations: New Jersey has specific timelines for contesting probate and fraud claims.
Have you consulted with a probate attorney in New Jersey yet?
- Probate Issues: If the will was not probated, the estate wasn't properly settled.
- Fraudulent Loan: Taking a loan without notifying a co-owner can be considered fraudulent.
- Statute of Limitations: New Jersey has specific timelines for contesting probate and fraud claims.
Have you consulted with a probate attorney in New Jersey yet?
Yes we have and we are trying to figure out who the administrator to the will is going to be my cousin John and my cousin James can go administer but we asked if we could have all monies including our half and her half put into an escrow account until said loan has been figured out
It sounds like you have a complex situation involving probate and potential fraud. Here are some actions to consider:
- Administrator Appointment: You can petition the court to appoint an administrator if no one has yet been appointed.
- Escrow Account: Request that all assets be placed in an escrow account until the loan issue is resolved.
- Legal Counsel: Continue working with your probate attorney to address these issues.
Have you already filed a formal petition in probate court for the administrator appointment?
- Administrator Appointment: You can petition the court to appoint an administrator if no one has yet been appointed.
- Escrow Account: Request that all assets be placed in an escrow account until the loan issue is resolved.
- Legal Counsel: Continue working with your probate attorney to address these issues.
Have you already filed a formal petition in probate court for the administrator appointment?
Yes but my aunt came back and said that she does not wish to have her money put into the escrow account because she is not a benefic
Given the complexities of your situation, it sounds like you have a solid case involving probate issues and potential fraud. Here are some points to consider:
- Probate Court: If your aunt is not a beneficiary, she might not have a say in the decision to place funds in escrow.
- Administrator's Role: The appointed administrator can usually make such decisions, especially if it protects the estate's interests.
Have you discussed the situation with your probate attorney to see if the court can enforce the escrow arrangement despite your aunt's objections?
- Probate Court: If your aunt is not a beneficiary, she might not have a say in the decision to place funds in escrow.
- Administrator's Role: The appointed administrator can usually make such decisions, especially if it protects the estate's interests.
Have you discussed the situation with your probate attorney to see if the court can enforce the escrow arrangement despite your aunt's objections?
Yes he has contacted the judge to have an order put in place but is unsure of whether or not the judge will agree as this could lead to a secondary trial
It sounds like you're navigating a potentially strong case involving probate issues and potential fraud. Here are some considerations:
- Judicial Decision: Judges often prioritize protecting the estate. If placing funds in escrow is in the estate's best interest, the judge might agree.
- Secondary Trial: This could occur if disputes continue or new issues arise during the process.
One question: Have you been given any indication from your attorney on the likelihood of the judge agreeing to escrow the funds?
- Judicial Decision: Judges often prioritize protecting the estate. If placing funds in escrow is in the estate's best interest, the judge might agree.
- Secondary Trial: This could occur if disputes continue or new issues arise during the process.
One question: Have you been given any indication from your attorney on the likelihood of the judge agreeing to escrow the funds?
He is undetermined as to whether or not the judge will ruin this favor
It sounds like you have a strong case involving probate issues and potential fraud, but the uncertainty regarding the judge's decision is understandable. Here are some points to consider:
- Judicial Priorities: Judges generally aim to protect the estate's interests.
- Secondary Trial: This might happen if the initial issues aren't resolved.
Has your attorney suggested any alternative strategies if the judge doesn't agree to the escrow arrangement?
- Judicial Priorities: Judges generally aim to protect the estate's interests.
- Secondary Trial: This might happen if the initial issues aren't resolved.
Has your attorney suggested any alternative strategies if the judge doesn't agree to the escrow arrangement?
Not as yet do you have suggestions
You have a compelling case that involves probate issues and potential fraud. If the judge doesn't agree to the escrow arrangement, consider these alternatives:
- Injunction: File for an injunction to prevent your aunt from accessing or using the funds until the matter is resolved.
- Mediation: Suggest mediation to resolve disputes outside of court, which can be faster and less contentious.
Have you discussed these options with your attorney?
- Injunction: File for an injunction to prevent your aunt from accessing or using the funds until the matter is resolved.
- Mediation: Suggest mediation to resolve disputes outside of court, which can be faster and less contentious.
Have you discussed these options with your attorney?
Not as of yet I am looking for more information and if this case and loan because she wants me to pay half is actually fraudulent because she took it out without my acknowledgment
Jennifer, your situation indeed seems complex and potentially fraudulent. Here are some key points to consider:
- Fraudulent Loan: Taking out a HELOC without your consent as a co-owner can be considered fraud.
- Probate Issues: If the will wasn't probated, the estate hasn't been properly settled.
- Legal Action: You might need to pursue legal action to contest the loan and secure your interests.
Have you considered seeking a forensic accounting to trace the loan funds and their usage?
- Fraudulent Loan: Taking out a HELOC without your consent as a co-owner can be considered fraud.
- Probate Issues: If the will wasn't probated, the estate hasn't been properly settled.
- Legal Action: You might need to pursue legal action to contest the loan and secure your interests.
Have you considered seeking a forensic accounting to trace the loan funds and their usage?
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