Posted by Darryle-Ca on June 07, 2006 at 11:10:27:
I couldn’t of answered that question any better.
opinion-did I miss out - Posted by Leslie
Posted by Leslie on June 07, 2006 at 08:10:23:
Years ago, my Aunt offered me her home–no money to pass between us, I was to assume her existing loan–I did not do this–she now wants to sell–this was a verbal agreement–do I have a leg to stand on?
Re: opinion-did I miss out - Posted by Sailor
Posted by Sailor on June 08, 2006 at 10:34:59:
Do I understand that you think now that your aunt has further paid down her mortgage for years & probably gained appreciation that you want to hold her to a generous offer you long ago refused?
Tye
Depends on the Facts - Posted by Jimmy
Posted by Jimmy on June 07, 2006 at 08:29:44:
first, and most basic problem is lack of written agreement. unlike many other contexts, contracts dealing with interests in real estate must be in writing. this rule (called the statute of frauds–a misnomer) has been part of US law from the beginning. There are exceptions, and there are rules as to what qualifies as a “writing.” If auntie actually transferred the property into your name, you do have some written documentation supporting (part of) your side of the story.
Question: Did she transfer the property into your name? If yes, she cannot sell it. If no, case closed. You are dead in the water.
If she never made the transfer, this suggests (strongly) that you id not accept her terms. and she did not offer to make a gift to you. She offered a contract (you get the house but take the mortgage).