Expert: Jay Denit - 2/5/2008

Question
When we bought our land, we bought thru a real estate agency where the owner was financing the land. The guy that sold land has died. We decided to sell land and in checking court records, I discovered we had not been given a loan release, which should have been in 2001. I have contacted the children, the estate is in probate. They claim they don't have any records, then the daughter found some, in the meantime I have made copies of my cancelled checks and sent them to the lawyer. He is the type that drags his feet. In the meantime we have a sales contract signed by the buyer , Is there anyway we can go ahead and get this closed out without having to wait on them to get thru with their family debates. This has been in probate for about 8 yrs. If I can prove I've paid, is there some legal way I can get a loan release ?

Answer
Hi Linda,

This may not be the answer that you are looking for, but you will need the help of your attorney and the estate attorney representing the former lien holder.  Your attorney can better answer this for your state, but my understanding is that in an estate situation all of the assets are frozen until a final resolution has been reached.  It sounds like you paid off the loan, but in terms of the way the county sees it, since a release was never recorded, the debt is still outstanding.  

In addition to your attorney, try and get a local Title Insurance company involved and see if they can't help you too.

My fear is that you will have to wait until probate is over before just because the original note holder is the deceased.

Wish I could have been more help!