I am a debtor, if 1 of 2 judgement creditor dies, do I still owe the surviving creditor the entire judgement amount?
My ex-business partners got a judgment against me for old referral fees they alleged that I owed them after our firm broke up. They had brought a summary process motion and I was in process of selling property to pay them. Suddenly, 1 of the 2partners died. Do I owe the surviving partner the entire judgment? There is nothing in any agreement about right of survivorship or anything that said I would pay referral fees to heirs and assigns, etc.
Is this an agreement as to the amount of referral fees owed or is it a judgement rendered by an Judge? How the judgement is written will determine who will receive the funds, but I would guess that you woe the parent's estate his share of the judgement. If he had a right to the money when he was alive his estate has a right to the money upon his death. But again, bring the judgement and any papers that you believe a re relevant to an attorney to review for you. You want to make sure that when you pay it you pay it to the correct person. Good luck.
Yes, you still owe the entire judgment. Once a judgment has been entered, it is in many ways like a mortgage: its amount and interest rate are fixed, and the rights of the judgment creditor or creditors are settled.
If you think that for some reason, even if the one partner had died before the judgment was entered, that the one partner's death would relieve you of that partner's "share" of what would otherwise be your legal obligation, you're completely mistaken.
However, you still owe the entire judgment only once, and you can pay it to the surviving partner and expect (and demand, if necessary by court order) a satisfaction of the judgment, which removes the lien. How that money, once you've paid it, is to be divided between the surviving partner and the other partner's estate or heirs, isn't your problem.