Q: I borrowed money from someone who recently died. We never signed loan documents. Am I obligated to repay the loan?
A: Are you legally obligated to repay money that you’ve borrowed? I’m not an attorney, so I can’t give you a legal opinion. But I’d certainly say that you’re ethically bound to repay these funds, and may be legally obligated as well.
If the executor of the estate finds proof that funds were lent to you and not repaid, you may have trouble going forward.
The real question is not whether you legally owe the money but rather why you wouldn’t come forward and repay a debt that you know you owe.
Please talk to an attorney for further guidance. You may find out that even though there were no loan documents signed for the personal loan, if their is evidence of a loan, you can be required to repay that debt even if the person that gave you the money is now dead.
The right thing to do is to pay back the personal loan.
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