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Gifted money to pay off mortgage
angelicmandy
Posts: 92 Forumite
Hello, im back again! myself & my partner have been fortunate enough to be gifted some money from his mother in order to pay off our mortgage early. We will now be receiving a sum of £84k in all. However, she has in turn been gifted this money from her own sister who unfortunatley lost her son recenlty and inherited the money from him. With regard to the first £50k they have signed a Deed of Variation to protect it from being chased should her sister pass away or need to go into a home at any point. However, no deed of variation has been done with regard to the remaining £34k as her sister has only since decided she also wants to give this away. Im worried that this money could be chased in the future. Is it too late to do a deed of variaton for this as the money has already been transferred from the executors account passbook into my partner's mom's account. What happens if she gifts it to us & the authorities come looking for it? I know there is a bit more to this post than "mortgage free wannabee" but it was the closest forum i could find
many thanks
:A
many thanks
:A
0
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