Legal Question in Real Estate Law in Connecticut

Borrowed Money
The situation is this: 5 years ago, my husband and I signed an agreement with his grandmother, (a notary public stamped it only in my husbands presence) that if she gave us 30,000 towards the purchase of a house,she would live in it with us(in the in-law apartment)rent free and pay only her utilities(phone and cable and electric). If we sold the house, we had to give her money back in full, or offer her an equivalent place to live. We put the house on the market a few months ago and are less than a month away from closing. We offered her an opportunity to move with us, which she declined, so she moved out to senior housing. Before she moved out, she made it impossible for the realtors to show it, telling prospective buyers that we were kicking her out with no place to go(after she had already found a place). We found a buyer who is paying about $40,000 less than we were asking, but we needed to sell quick because of a pending divorce. Is the Grandmother really entitled to her full $30,000 back? She's now saying she's got a lawyer and will put a lien on the house. I think she's not entitled to the whole amount since the apt was worth about $800/month, and she never paid us for heat or water or weekly use of our washer and dryer.

Asked on 8/03/06, 8:26 pm

Andrew Magwood Andrew A. Magwood Attorney at Law

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Re: Borrowed Money

She probably has the right to her money back. Of course, that depends on the exact wording of the contract - I would have to see it to be sure.

Answered on 8/04/06, 5:03 pm

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