Legal Question in Civil Litigation in Wisconsin

financial

My cousin inherited money and gifted us a portion of it to help us ''get into the house'' we are building. The money ran out before we could move in, and she now feels we mismanaged her money and wants it back. There was no loan, no note, only the gifting. She has advised us to get a good lawyer. Please assist.


Asked on 2/24/08, 11:39 am

1 Answer from Attorneys
JAY Nixon nixon law offices

Construction Loans/Gifts from Relatives

Sorry, but I don't know owns the house, you or your cousin, or any other details, so it is very hard to advise you. Generally speaking, a completed gift transfers the title (legal ownership)of any item, including money, to the recipient. However, proving that this was a completed gift could prove difficult with no paperwork; you could end up with conflicting testimony about the exact intended nature of the money transferred. I would agree with your cousin that you should retain a lawyer to advise you in this matter.

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Answered on 2/25/08, 7:53 am


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