How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask UKSolicitorJA Your Own Question
UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
62162956
Type Your Law Question Here...
UKSolicitorJA is online now

Can a statute of limitation be applied to a loan agreement

Resolved Question:

Can a statute of limitation be applied to a loan agreement which does not become payable until after the person has died?
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
-Could you explain your situation a little more?
Customer: replied 3 years ago.

Ten years ago my sister advanced money to my then Australian partner for rehab. to help him after he suffered a stroke. He could not talk or walk properly. The Loan Agt. was drawn up by her solicitor, witnessed, etc. The loan was payable after his death. Sadly, he has now died but I have received an email from her brother-in-law wondering if it could be "statute barred". It is upsetting to think that his family in Australia would now rather try and find a way of not repaying this loan. Especially as my sister did this out of love and kindness and only tried to help him have a better life than the one he was left with. I am asking the question on behalf of my sister as she has been very ill now for a year. Hope you can help.

Expert:  UKSolicitorJA replied 3 years ago.
Hello,
No, the loan would not be statute barred unless 6 years have passed since his death under the Limitation Act 1980. If he died recently, the loan is still payable and court action may be commenced to recover the money.
May I help further?
UKSolicitorJA and other Law Specialists are ready to help you