My father who lived with me paid some money towards my home as a gift. Basically he placed a good down payment. The house is in my name and homesteaded in Florida. Now we get into an argument and he says he is suing me to get back all of the money he put into the house. Does he have a case?
2007-10-18 09:31:25 · 3 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Basically I worked for him for 10 years and never got paid anything so as a gift he paid the money towards the purchase and I got a mortgage for the rest. I never asked him to document it as a gift, I was just grateful. But I was told that in the state of Florida the homestead act can keep anyone from taking your house but he insists that he wants all the money back and will get it in court. My name is the only name on the deed, the mortgage and the utilities though.
2007-10-18 09:52:30 · update #1
I don't think that he would have a case unless he is able to prove that the original intent was a loan and not a gift. His cancelled checks probably are the only thing he has and, in my opinion, those won't be enough.
2007-10-18 10:10:56 · answer #1 · answered by Wayne Z 7 · 0⤊ 0⤋
If he gifted you the money as a downpayment and it was included and documented in the loan used to purchase the house then he doesn't have a case. It's a done deal.
2007-10-18 09:45:51 · answer #2 · answered by T 2 · 1⤊ 0⤋
chances are if he has it well documented that he will win a judgment against you.
2007-10-18 09:40:03 · answer #3 · answered by Jan Luv 7 · 0⤊ 1⤋