Possible legal matter
19 October 2007, 12:17 PM
#32
Work out the value of £25k cash on the first day that your son offerred to return it to you.
Index it for inflation and then agree that amout as the true value of the repayment as a compromise.
If you HAD of accepted the money when offerred, it would NOT be worth the £83k that it is now.
Index it for inflation and then agree that amout as the true value of the repayment as a compromise.
If you HAD of accepted the money when offerred, it would NOT be worth the £83k that it is now.
19 October 2007, 12:17 PM
#33
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You can't execute the trust deed now as the house to which it refers has been sold. If you go through the courts you would probably get 50% of the sale price of the first house. You could probably sue the solicitor who didn't transfer the trust deed for the rest
19 October 2007, 12:18 PM
#34
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On the issue of the dead dad.. there WAS NO WILL - it was NOT the gandsons money so everyine saying "its your sons inheritance" is talking rubbish - the money was passed to the son of the dead dad under the law...end of.
However, what you did with it afterwards (and in the folloiwng years) was stupid - you say it was a loan yet you say you owned part of the first house, the list goes on and on. You, your son and your leagal people are all muppets to let this happen with YOUR money.
However, what you did with it afterwards (and in the folloiwng years) was stupid - you say it was a loan yet you say you owned part of the first house, the list goes on and on. You, your son and your leagal people are all muppets to let this happen with YOUR money.
19 October 2007, 12:18 PM
#35
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oh, and to answer your question - your ownership related to the first house. On its sale you were entitled to 50% of its value as per the trust.....you may have some dispute with the legal goings on that happened at that time but what ownership do you think you have over the house your son then bought??? it was nothing to do with you.
parents that get involved with their kids houses need to be 110% clear if what theya re doing is GIFTING, LOANING or BUYING INTO THE HOUSE.
parents that get involved with their kids houses need to be 110% clear if what theya re doing is GIFTING, LOANING or BUYING INTO THE HOUSE.
19 October 2007, 12:20 PM
#36
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Wrong place then
Highly unlikely
19 October 2007, 12:20 PM
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Last edited by stilover; 19 October 2007 at 12:23 PM.
19 October 2007, 12:20 PM
#38
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I don't think the the fact the the father loaned the son the money is the part that is reprehensible. It is the part where he expected to profit out of it.
19 October 2007, 12:20 PM
#39
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So your trying to profit from your fathers death (after all it was his money for you to pass on), trying to do your son over (25k turns to 83k), Getting solicitors involved as well.
Man, your f*cked up
I wouldnt be suprised if you've already written up an agreement for your grandkids to work off the debt.
Try and make good from your mistake, its the only way.
Man, your f*cked up
I wouldnt be suprised if you've already written up an agreement for your grandkids to work off the debt.
Try and make good from your mistake, its the only way.
19 October 2007, 12:21 PM
#41
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no...lets be LEGAL. The money was NOT left to the grandson, end of. It was left to the son...who bought half a house with it...which was then sold and he never saw his share back at the time. Thats where the story ends, with the sale of the first house and the screw up.
19 October 2007, 12:23 PM
#42
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19 October 2007, 12:23 PM
#43
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Charliethedog....On a more serious note, what happens if you take this a lot further and you are legally within your rights to pursue your son for £83k
How is your son going to afford to give you this? Doubtful he has 83k stashed away in the bank.
Would you seriously request he sell his property and reduce the quality of life he has set for his own familiy and YOUR grandchildren in order to do so?
Pretty unfair, dont you think?
Why didn't you accept his £25k when he offered it to you twice? Why didn't you discuss at this point that it wasn't £25k that he owed you but significantly more (in your eyes)
Surely in the conversation, you must have said to him that it wasn't £25k, it was 16.67% of his then priced property?
If my father was to do that to any of his 4 children, he would be disowned by all of us!
The thing is, say you get the money, your son sells his house. Do you really want to grow old and lonely with a family hating you for what you did?
Forget the £25k and worry about money like the rest of us!! Make up with your son, his wife and his kids before its too late.
Over and out!
How is your son going to afford to give you this? Doubtful he has 83k stashed away in the bank.
Would you seriously request he sell his property and reduce the quality of life he has set for his own familiy and YOUR grandchildren in order to do so?
Pretty unfair, dont you think?
Why didn't you accept his £25k when he offered it to you twice? Why didn't you discuss at this point that it wasn't £25k that he owed you but significantly more (in your eyes)
Surely in the conversation, you must have said to him that it wasn't £25k, it was 16.67% of his then priced property?
If my father was to do that to any of his 4 children, he would be disowned by all of us!
The thing is, say you get the money, your son sells his house. Do you really want to grow old and lonely with a family hating you for what you did?
Forget the £25k and worry about money like the rest of us!! Make up with your son, his wife and his kids before its too late.
Over and out!
19 October 2007, 12:24 PM
#45
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Quote: In 1996, I gave my son £25,000 which was left to me when my dad died.
but it wasn't left to you because you then go on to say
Now my dad had told me previously that he wished to leave this money to his only grandson to help him on the property ladder
so your Dads dying wish was for YOU TO GIVE THE MONEY TO YOUR SON
but no will was left and the money was left to me.
but because he never put it in writing, you decided to keep it. And now, your asking your son for 83k back? Don't you understand that the £25k was NEVER YOURS?
You need to seek help, because you are seriously screwed in the head.
but it wasn't left to you because you then go on to say
Now my dad had told me previously that he wished to leave this money to his only grandson to help him on the property ladder
so your Dads dying wish was for YOU TO GIVE THE MONEY TO YOUR SON
but no will was left and the money was left to me.
but because he never put it in writing, you decided to keep it. And now, your asking your son for 83k back? Don't you understand that the £25k was NEVER YOURS?
You need to seek help, because you are seriously screwed in the head.
19 October 2007, 12:28 PM
#49
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19 October 2007, 12:29 PM
#51
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How could you not follow you're dying fathers wishes? He didnt leave it in a will because he thought he could trust this toad.
If it was me I wouldnt sleep at night.
You need to see your son, tell him that the money was indeed a gift, and ask for his forgiveness. You arent likely to see him or your grandsons again.
If it was me I wouldnt sleep at night.
You need to see your son, tell him that the money was indeed a gift, and ask for his forgiveness. You arent likely to see him or your grandsons again.
19 October 2007, 12:31 PM
#52
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Its nothing to do with trust - there are many legal and taxation issues (not to mention admin hassles) caused by not recording your wishes. The dead dad was stupid to not write a will and the son is under NO obligation to act on stuff his dad told him.
19 October 2007, 12:32 PM
#53
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19 October 2007, 12:34 PM
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19 October 2007, 12:36 PM
#57
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Rather than get into the morality of your actions, it's fair to say that the forms you all aigned at the outset will determine the legality of the matter.
![[Davey]'s Avatar](data:image/svg+xml;utf8,<svg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 50 50'><circle class='avatar-circle-default' fill='%23806b84' cx='25px' cy='25px' r='20px'></circle><text class='avatar-text-default' x='49%' y='53%' fill='white' text-anchor='middle' alignment-baseline='middle'>[</text></svg>)
19 October 2007, 12:37 PM
#59
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lol.
why don't you try blackmail or something, or maybe wage a campaign of violence, threaten your grandkids or your daughter in law unless you get the money of your son.
Don't accept just being a bad dad, go for being the worst ever.
why don't you try blackmail or something, or maybe wage a campaign of violence, threaten your grandkids or your daughter in law unless you get the money of your son.
Don't accept just being a bad dad, go for being the worst ever.
19 October 2007, 12:38 PM
#60
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So can I legally ask my son for the £25k plus inflation if I am not legally entitled to £83k?
Or have I lost my money and it is up to my son to give me what he so wishes, which I am sure will be 25k if I ask nicely.
Or have I lost my money and it is up to my son to give me what he so wishes, which I am sure will be 25k if I ask nicely.