Legal Question in Real Estate Law in Pennsylvania

Re: Real Estate Gift

You asked about the transfer of property.

The transfer of property is not a gift it was transferred for good and valuable consideration. Even though the value of the property may have been larger than the amount of consideration there is no cause for such to be labeled a gift.

Unless there was a contract to the effect that there could be a call for additional consideration then there probably is no enforceable means for collecting additional funds. Specifically, under the statute of frauds an agreement for the transfer of real property must contain all the terms and no terms may be represented by parol evidence.

The question you have to deal with is should you pay the parents anything?

I would be happy to help you with this matter.

Regards,

Roger