If the partner of a woman gives her a large sum of money when he moves into the womans house and then dies a couple of years later does the family have the right to ask for the money back with interest. The money was a gift and not a loan and there are no signed documents saying otherwise.
2007-09-11 03:21:41 · 10 answers · asked by Tuppence 4 in Business & Finance ➔ Personal Finance
the family in question say that the money was a loan but that was not the agreement between my friend and her partner when he moved in. He was a business man and if it had been a loan he would have drawn up a contract like he did with other people he leant money to
2007-09-11 03:32:09 · update #1
You have answered the question - the money was a gift and therefore the recipient keeps it.
2007-09-11 03:28:34 · answer #1 · answered by fengirl2 7 · 0⤊ 0⤋
If the money was given as a gift then it belongs to the person and nobody else. Anyone can ask for the money, even me. Can I have it please? It doesn't mean I have a right to it. By law the family can not get the money back. Even with a good lawyer. I wrote this answer before the additional details appeared. I stand by my answer. If it was a loan it is up to the family to prove it was a loan and without a contract it isn't likely to happen.
2007-09-11 10:32:36 · answer #2 · answered by aswkingfish 5 · 0⤊ 0⤋
The family has no "rights" at all (unless they are suggesting he borrowed the money from them and promised to pay it back, for example)
The Executor of his estate might want to take legal advise (for example, if there likely to be a claim of incompetence from the family), however if no documentation exists suggesting this was a loan (rather than a gift) there is little that the Executor can do.
NB. The Executor needs to contact the partner = it is possible that he had written a Will leaving his estate to her instead of his money grasping relatives ...
2007-09-11 11:58:19 · answer #3 · answered by Steve B 7 · 0⤊ 0⤋
I'm not a expert on this subject but it seems clear the anser is no. There is no legal reasoning for the return of any gift at anytime, after death or otherwise. You have no rights that I can see and furthermore it seems more than a little rude to ask. I will assume that there is more to the story then has been revealed here and base my answer strictly on the information provided above.
2007-09-11 10:27:39 · answer #4 · answered by linc654 2 · 0⤊ 0⤋
there isn't anything in writing so they can't prove it was a loan with interest, otherwise wheres the paperwork on the agreed interest?
can't prove it was a gift. But if it is in her name, she has
ownership, then it is hers. Can she prove from his bank
account and her bank account that the money was transferred
deposited or whatever before his death? Then there wouldn't be any suspicions.
2007-09-11 13:58:10 · answer #5 · answered by Anonymous · 0⤊ 0⤋
if its in cash, no problem, the family can hardly trace it.
but if its really a big sum, such that its worth the effort of tracing it, then either way, someone else will have a part of it. if u say that its a gift then donor's tax is due. if its otherwise, then you still have to prove how it reaches your hands.
don't worry about interest. i dont know about your countries laws, but most often than not, they also provide that NO INTEREST SHALL BE DUE UNLESS STIPULATED IN WRITING.
2007-09-11 10:33:19 · answer #6 · answered by summerfairy 3 · 0⤊ 0⤋
no they cannot ask for it back.
a) it was a gift
b) they can not legaly take it back as there is no reciept of it ever being given to you in the first place so they cannot get a coart order to get any back.
2007-09-11 10:35:17 · answer #7 · answered by Marvin 4 · 0⤊ 0⤋
Take proper legal advice
2007-09-11 11:29:26 · answer #8 · answered by FRANK W 2 · 0⤊ 0⤋
a gift is a gift, no take backs..leave her alone in her grief .
2007-09-11 10:29:52 · answer #9 · answered by Anonymous · 0⤊ 0⤋
no
2007-09-11 10:30:48 · answer #10 · answered by Jessy 2 · 0⤊ 0⤋