Legal Question in Real Estate Law in New Jersey

house

i bought a house a few months ago and a friend volunteered to give my mother the down payment, my mom agreed to pay her when she could. The friend was asked to sign a form for the bank who gave me the mortgage stating that the money was a gift and did not have to be re-paid. She is not threatening to sue me for payment. Does she have a legal claim or does the bank paper serve as a waiver ?


Asked on 1/08/09, 2:32 pm

1 Answer from Attorneys
John Corbett Corbett Law Firm LLC

Re: house

The paper should stand up in court. The mortgage company relied on her statement that you are not legally liable for the debt and you can use that under a legal doctrine called "estopple".`

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 1/08/09, 11:03 pm


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