parents gifted money but now want it back

JanCee

Angela_D wrote: »

Is there an update yet ? Would be interested to see what the solicitors said as my MIL gave us £16,000 to finish off the house we are in, new windows etc.
The idea was once it was finished we would buy a house big enough for her to have an annex and she'd give us a contribution towards that.
Given that she doesn't miss an opportunity to remind us about the £16,000 to say I've gone off the idea is an understatement. The fact that her house isn't/and won't sell at her asking price and neither will ours it's all up in the air and irrelevant at the moment but I'm sure it won't be long before she starts asking for the £16,000 back.
What do they say about families and money.

There was some very good advice in the Sunday Times at the weekend about giving/receiving money from family for property purchase. They advised that all transactions should be backed up by a letter from the giver setting out the terms and conditions (if any) and a copy should be taken and lodged with a solicitor. I think their main point was to cover all parties in case of queries from the taxman but it would also solve any disputes or misunderstandings at a later date. As more and more young people are receiving financial help from family I do think this is a really sensible idea.

bridgemaster

hello,

3 years ago we gave our daughter money to buy a house where we alone live in.

Now my wife wants a divorce and claims half of the house back. I will see our solicitor about this of course, but could this really be possible?

isplumm

bridgemaster wrote: »

hello,

3 years ago we gave our daughter money to buy a house where we alone live in.

Now my wife wants a divorce and claims half of the house back. I will see our solicitor about this of course, but could this really be possible?

suggest you start your own thread & give a bit more detail.

Mark

Loretta

I wonder why, out of the blue, they went to see a solicitor in the first place - could be the brother behind it.

OP says that parents wanted the reassurance that daughter and family were nearby in an emergency. These parents seem to be fit and well and leading independent full lives, which is what we all want, there hasn't been an emergency, what parents are saying doesn't make sense, could be the brother behind it or first signs of 'health problems' as already mentioned.

I don't think parents stand any chance at all in getting what they are suggesting but they seemed to have found themselves a solicitor who is willing to take money off them anyway, not difficult! I think OP should sit tight and let them do anything they like, OP shouldn't spend any money on it at all, just wait and see what happens