Brother in law owes money

ScubaLinda

Hi all,

Not sure if I have posted this in the correct place.
My brother-in-law owes my father-in-law approximately 100k.
There was a verbal agreement that my Brother-in-law would sell one of his two properties to pay the debt once the tenant occupying the property had passed away. The tenant was a famliy member.
The tenant has since passed away but the property has not gone on the market.
To make matters worse my brother-in-law has split with his partner and allowed him to move into the property that should have been sold. We are not sure if it has been signed over to him.
As far as I am aware there is no written agreement for the money owed as the debt was run up over a few years but there is a paper trail showing the money being transferred.
Is there anything we can do to try a recoup the money as it is clear that my brother-in-law has no intention of ever paying the money back?
Both my in-laws are retired and that money was their nest egg for a happy retirement.
Any help or advise would be very much appreciated.

Thxs

thorsoak

1. As it is your brother in law/father in law - would it not be better for your OH to deal with this?

Unless you have specifically been asked to help, you'll only be accused by one or the other party of meddling

ScubaLinda

I've been asked to look into by my OH and his family.

CH27

ScubaLinda wrote: »

Hi all,

Not sure if I have posted this in the correct place.
My brother-in-law owes my father-in-law approximately 100k.
There was a verbal agreement that my Brother-in-law would sell one of his two properties to pay the debt once the tenant occupying the property had passed away. The tenant was a famliy member.
The tenant has since passed away but the property has not gone on the market.
To make matters worse my brother-in-law has split with his partner and allowed him to move into the property that should have been sold. We are not sure if it has been signed over to him.
As far as I am aware there is no written agreement for the money owed as the debt was run up over a few years but there is a paper trail showing the money being transferred.
Is there anything we can do to try a recoup the money as it is clear that my brother-in-law has no intention of ever paying the money back?
Both my in-laws are retired and that money was their nest egg for a happy retirement.
Any help or advise would be very much appreciated.

Thxs

I'm not sure about getting the money back but if I were them I would change my will to deduct the £100k from his inheritance.

marisco_2

If nothing has been legally drawn up, to say that x amount of money has been loaned and is to be repaid, then I dont think your bil can be pursued for it. I think it is disgusting when people take money from someone and they have no intention of paying it back.

I lent a family member 1K a few years back to help them out of a tight spot. All the promises in the world from them at the time to repay it have materialised to nothing. A small price to pay to be rid of such a letch. 100K on the other hand cannot be so easily forgotten. Never lend money to friends and family is now my mantra.

krlyr

It might be worth trying to establish evidence now - would the BIL reply to an email outlining the debt/agreement? FIL would then have written proof of the agreement that he lacks at the minute

marisco_2

krlyr wrote: »

would the BIL reply to an email outlining the debt/agreement? FIL would then have written proof of the agreement that he lacks at the minute

I doubt someone who can swindle 100K out of someone, when they have no intention of repaying it, would be so gullible as to respond to that kind of email unfortunately.

getmore4less

Even if you get the loan confirmed without confirming the repayment terms AIUI there is nothing you can enforce.

ScubaLinda

CH27 wrote: »

I'm not sure about getting the money back but if I were them I would change my will to deduct the £100k from his inheritance.

That's has already been done. To quote my FIL "he is not going to get another bite at the cherry"

building_with_lego

krlyr wrote: »

It might be worth trying to establish evidence now - would the BIL reply to an email outlining the debt/agreement? FIL would then have written proof of the agreement that he lacks at the minute

Someone on here once suggested that you write to the person asking them about the *much higher than they actually borrowed* sum. The idea is that they then reply saying "actually it was only £100k" and that counts as recognition of the agreement. May be worth a shot?

Padstow

ScubaLinda wrote: »

Hi all,

Not sure if I have posted this in the correct place.
My brother-in-law owes my father-in-law approximately 100k.
There was a verbal agreement that my Brother-in-law would sell one of his two properties to pay the debt once the tenant occupying the property had passed away. The tenant was a famliy member.
The tenant has since passed away but the property has not gone on the market.
To make matters worse my brother-in-law has split with his partner and allowed him to move into the property that should have been sold. We are not sure if it has been signed over to him.
As far as I am aware there is no written agreement for the money owed as the debt was run up over a few years but there is a paper trail showing the money being transferred.
Is there anything we can do to try a recoup the money as it is clear that my brother-in-law has no intention of ever paying the money back?
Both my in-laws are retired and that money was their nest egg for a happy retirement.
Any help or advise would be very much appreciated.

Thxs

I'm not sure how you think anyone here could help. In your post you've had to guess at three points, so if you don't know how could anyone else?

What is staggering, is that although there is 100k at stake here, FIL hasn't even made a free 30 min appointment with a solicitor. Please get him to do so, taking all paperwork with him.

Good luck with it, no one likes to be ripped off, especially by a family member.