Recent content by mdinner

I stand corrected...HIS

Thanks for everyone’s comments. Didn’t mean to over complicate this question. Just wanted to know if a gift was given to a child under the circumstances I mentioned, was there any legal reason the money could not be gifted back in the future. I did not want my son or myself to do anything...

Thanks for the info. Was just wondering what is allowed and what isn’t.

As I understand it, while anyone can give a gift, the mortgage company requested a gift letter to be assured there was no obligation to pay that money back. As a lender they want to be assured my son as a borrower did not have additional debt. Any additional debt my son might have would...

I signed a gift letter for my son who was buying a house. There were no repayment requirements. I know I legally declared this money was a gift and it required no repayment but what if he wants to pay it back? Is there a time limit where beyond which he could legally gift me money back. Also...