Posted on: 26th Jan, 2010 08:44 am
I recently sold my home and had equity of 40,000. I inturn gave that to my what was going to be my future mother in law to repay her for the $40,000 she lent her son for a down payment on his house. We have recently seperated and i am just curious if I am entitled to any of the down payment I gave him for the house. The house is exclusively in his name.
entitled? we don't know the answer, honestly. what, if any, documentation did you draw up when you transferred these funds to your "future" mother in law? i think the nature of that transfer of funds clouds this picture by itself. after all, she then took said funds and used them to lend money to her son for his new purchase. obviously, if it's a loan, he's paying her back, but not you. does he have awareness of the origin of this $40K?
i think you're out of luck, frankly. unless you have some sort of trail that leads back to the money, and that provides for you to be compensated, it appears to be a losing proposition.
i think you're out of luck, frankly. unless you have some sort of trail that leads back to the money, and that provides for you to be compensated, it appears to be a losing proposition.