gifted money

UPDATED: Oct 1, 2022

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gifted money

My son bought a mobile home and put his fiance’s name on the loan. Her dad gave them money to put down on the loan. A week after the home was delivered she called the wedding off. We had 2 forms printed and had her sign them stating that she gave up all interest and that only if my son falls delinquent in the loan then she can keep from default and take property. These were notarized. The dad told us and my son that he didn’t owe him any thing and that it was a gift and he didn’t expect a thing back because he knew he wouldn’t have took a loan on know that this was going to happen. My son had to have trailer moved and has been paying the note for 5 months. Now the dad is angry with my son for not taking his daughter’s calls and threatening him with an attorney telling him that he has to pay him back.

Asked on January 2, 2018 under Real Estate Law, Texas


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

Money, once gifted, belongs to the recipient: the giver has no more rights to it, including a right to get it back. The giver cannot after the fact say it was a loan when there was no agreement before or when the money was given that it was a loan--that is, it's only a loan (not a gift) if the recipient accepted it knowing that he had to repay it. Based on what you write, it appears you son has no obligation to return the money, if it was a gift at the time it was given.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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