Probate Lending: Data From San Francisco

13 Pages Posted: 26 Oct 2020

See all articles by David Horton

David Horton

University of California, Davis - School of Law

Reid K. Weisbord

Rutgers Law School

Date Written: September 24, 2020

Abstract

Recently, “probate lenders” have started to advance cash to heirs and beneficiaries in return for part of their interest in a pending decedent’s estate. This Article advances our understanding of this phenomenon by analyzing an original dataset of 1,119 probate matters from San Francisco. Capitalizing on a California statute that requires probate lenders to file their contracts in the court record, the Article offers insights about the contours of the industry, why people borrow against their inheritances, and the fairness of these transactions. The Article concludes that probate lending raises serious consumer protection concerns.

Keywords: probate lending, fringe lending, fringe finance, usury, consumer protection, payday lending

Suggested Citation

Horton, David and Weisbord, Reid K., Probate Lending: Data From San Francisco (September 24, 2020). 169 U. Penn. L. Rev. Online, Rutgers Law School Research Paper No. Forthcoming, Available at SSRN: https://ssrn.com/abstract=3699100

David Horton (Contact Author)

University of California, Davis - School of Law ( email )

Martin Luther King, Jr. Hall
Davis, CA CA 95616-5201
United States

Reid K. Weisbord

Rutgers Law School ( email )

Newark, NJ
United States

HOME PAGE: http://law.rutgers.edu/directory/view/weisbord

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
94
Abstract Views
700
rank
372,742
PlumX Metrics