Can someone come after me for money that was verbally considered a gift, if they have no paperwork?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Can someone come after me for money that was verbally considered a gift, if they have no paperwork?
My wife and I have been renting a trailer from my uncle for almost 8 months now. I recently became unemployed and my mother, who lives beside us, has been paying my uncle the monthly due of $350 a month, as well as periodically assisting with utilities and other expenses. My mother and I made a deal that I would loan her my iPad2 and she would loan us $300 to further assist us. We reached a verbal agreement between us that I could keep the iPad2 and she would still give us the money. The funds she provided have been used to pay appropriate bills.
Asked on December 30, 2011 under Real Estate Law, Louisiana
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
There is always the possibility that if you received money as a verbal gift where there is no paperwork evidencing that the money received was a gift, there is always the possibility that the person who gave the money as a gift could change his or her mind and claim the money as a loan and seek its return.
To possibly counter this unfortunante scenario, I would write this person a thank you note for the monetary gift and keep a copy of the letter for future need and reference.
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 AttorneyPages.com 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.