My question involves real estate located in the State of: California.
One of my family members who helped us with the down payment of a home is now trying to sue us. It's very new and we made our first mortgage payment 1 week ago.
This certain family member gifted us over 90k in gifted money (with a signed gift letter) and after telling his family about it he has changed his mind and is demanding the gift money that he gave us is now to be repaid.
We have a mortgage over 300k now and my credit was used for the home.
We had discussed if his family would get upset with him gifting us that much money and he said it's none of their business and let them burn with jealousy. (Obviously he does NOT have a good relationship with his kids and ex wife.
He has hired a lawyer now and I want to know if he has any chance of getting part of all of the property or if he can force us to repay him with legal terms/lawsuite.
Any advise would be highly appreciated.
Also he is a senior citizen. (68+)
One of my family members who helped us with the down payment of a home is now trying to sue us. It's very new and we made our first mortgage payment 1 week ago.
This certain family member gifted us over 90k in gifted money (with a signed gift letter) and after telling his family about it he has changed his mind and is demanding the gift money that he gave us is now to be repaid.
We have a mortgage over 300k now and my credit was used for the home.
We had discussed if his family would get upset with him gifting us that much money and he said it's none of their business and let them burn with jealousy. (Obviously he does NOT have a good relationship with his kids and ex wife.
He has hired a lawyer now and I want to know if he has any chance of getting part of all of the property or if he can force us to repay him with legal terms/lawsuite.
Any advise would be highly appreciated.
Also he is a senior citizen. (68+)
Mortgages: Being Sued Over Gifted Down Payment of Property
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