November 10, 2007
Posted by hurloch
My girlfriend was gifted a large sum on money 3 years ago to purchase a house by her brother. Due to recent family stress the brother is attempting to force her to repay the gift at this time. However he signed a statement at the closing indicating it was a loan and there was no intent to repay the gift. It was also understood by both parties at the time that she would not be able to pay him back.
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November 11, 2007
Posted by DanielleR
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I think the main question here is: Is the document that the brother signed a legally binding contract. While the law varies from state to state, all legally binding contracts must identify who is involved in the agreement (the individuals must be adults), state the both parties mutual consent, state the item/service being agreed upon, and consideration (meaning each party gain something). Your best bet might be having an attorney review the document to determine if it is, in fact, a legally binding agreement. Good luck!
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November 12, 2007
Posted by Chavez43
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From what you are saying, you are under no legal obligation to pay the brother any sum of money. Since the issue involves family, you need to sit down with your brother explain your side and listen and acknowledge his concerns. Feel free to report back after you hear your brother's side of the story.
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