What to do if I purchased a condo with money which was provided to me by my ex-girlfriend and the title and the mortgage is under my name only but now that we’ve broken up she wants the money back?

Asked on October 3, 2015 under Real Estate Law, New York

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

1 Was the money a gift to you when made no agreement to repay, or was it a loan there was an agreement, even if only an unwritten or oral one, to repay? If it was a loan, you must repay it according to the terms of the agreement. However, if it was a gift, you do not need to repay though bear in mind that there will be tax consequences for such a large gift...speak with a tax preparer. A gift, once given, cannot be ungiven, even if the relationship of the giver and recipient changes. The key issue is the agreement or intention when the money was provided.
2 Even if it was a loan, you only need to repay the agreed upon amount you may ask for proof or evidence of the amount loaned.
3 If you and your ex disagree you think it was a gift, while she thinks it was a loan, she may sue you and let a court decide who is right.


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