You can kiss that money “Goodbye”. You should never loan money or go in business with friends, family or relatives. Get a new friend.

First, even if you had a written agreement because his real estate had nothing to do with your loan you cannot attach a lien against that real estate. Second, because you have nothing in writing about the loan, there’s nothing now that you can do about this deadbeat. Let this be a lesson to you. If your “friend” cannot get a normal loan from a bank, don’t believe that you know more about loaning money to people they decline than they do. They make such loans for a living. They know a deadbeat when they see one. Your only hope is to guilt him into it which I doubt will work. Never loan money to friends unless you’re willing to kiss that money goodbye.

What kind of payment arrangements did you make with your friend. Have you asked for the money back. Because in 10 years you could not go to court to sue b/c the statue of limitations have run out. I would explain the your friend that now you are in a bind and need the money back just like they were.