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UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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Can a statute of limitation be applied to a loan agreement

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Can a statute of limitation be applied to a loan agreement which does not become payable until after the person has died?
-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.

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.
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