Posted by Chris on March 02, 2005 at 07:08:45:
I’m not an attorney, but, yes, I think it could be taken. Afterall, it’s still their property. Sounds like you don’t have anything in written form either. If I were you, I would get it in writing, then record the contract at the local courthouse, or where ever it is appropriate in your area. In my banking career, I’ve seen a lot of family squabbles over land, too, so getting this in writing may protect you in the future. No one ever thinks it’ll happen to them or their family, but trust me, I’ve seen it happen more than once. Or, what if your parents were to pass on, would your brothers and sisters honor your agreement with your parents? And who would be there except you to explain what the agreement was without a written document? Sad to say, but when dealing with family and friends, it’s even more important to get everything agreed on up front and get it in writing for future reference because strangers don’t pass the turkey at Thanksgiving.