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Gift or a loan(5 Posts)
MNHQ have commented on this thread.
My DD has separated from her husband and is planning to buy out her husbands share of the house which she can afford. The building society have verbally agreed to it just needs to look at and do all the paperwork.
The mortgage is an endowment one and since she left the house DD has been paying the mortgage plus the endowment. She only moved out as a last resort as her ExDH was self employed and his business was registered at their home address and according to him couldn't be changed without a lot of expense. About 6 weeks after she moved out he sold the business to another company and now works for them.
Throughout their marriage DD has always worked except for maternity leave and has always earned much more than him so has always contributed a lot more to the family pot. They have two DD's who spend 50% of time with both parents.
About 6 years ago her ExDH's father gave them quite a large sum of money to pay off some of their mortgage he gave the same to his daughter it was suppose to be a gift I saw the letter he wrote and it said as much as he was fed up of the HMRC getting his money. Over the years we have also given them money i.e. when my father died and I inherited money gave the same to our DS and other sums and also DH's cousin died and DD inherited from her as far as we were concerned these were gifts and in total were more than half of what he gave . Now DD and his DS have separated FIL is saying he wants all the money back from DD. He is then planning to give it back to his son to enable him to buy another property. If she doesn't agree to that her ExDH has told her he won't agree to the sale, he can't afford to keep the house on his salary so don't know what he is going to do. FIL has apparently said he wouldn't agree to half the money back i.e. DD's share it must be all of it
We have said he can't do that as it was a gift to them both and if it was a loan should have signed paperwork to the effect. She is due to see a solicitor appointed by the building society in a couple of weeks and she will ask her if they can do this but in the meantime we were wondering if anyone else has been in the same position and had a good outcome or could give advice. I said to DH maybe we should ask ExSIL for have the money that has come from our family.
There is absolutely no way he can claim any money back from her with no paperwork indicating any kind of loan.
And you have posted this about 20 times.
You can't ask for gifts back. If they can't agree what to do with the house, then a judge can badycakky order a transfer to your DD (if she can afford to buy it) or a sale. It will cost a fair bit in lawyers fees ti get to the steps of the court so if affordability is an issue for the etc husband, this should be pointed out to him now so that hopefully they can agree how to deal with this
Dint be surprised if the ex-Fil produces some kind of letter allegedly written at at the time saying it was a loan.
Very sorry everyone about numerous postings think computer has had a mad moment. Thanks to Ziggy and Goblin for replying so quickly.
Hi all, we've zapped all the duplicate threads now!
We're going to close this one too, and leave just the OP's other thread running. Here's the link.
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