3 Oct 2013
Peterborough office
48 Broadway, Peterborough Cambridgeshire, PE1 1YW
01733 346 333 01733 562 338 enquiries@hegarty.co.ukStamford office
10 Ironmonger Street, Stamford Lincolnshire, PE9 1PL
01780 752 066 01780 762 774 enquiries@hegarty.co.ukOakham office
66 South Street, Oakham Rutland, LE15 6BQ
01572 757 565 01572 720 555 enquiries@hegarty.co.ukMarket Deeping office
27a Market Place, Market Deeping, PE6 8EA
01778 230 120 01778 230 129 enquiries@hegarty.co.uk3 Oct 2013
Q. I lent £15,000 to my son and daughter-in-law three years ago so they could buy a house. They have since split up, and my son has moved out of the property. Can I get my money back from my former daughter-in-law?
A. If you signed a declaration of trust when your son and daughter-in-law bought the property then your interest has been protected and you can seek to recover your money. If no declaration was signed then you may make an application to court to have your interest in the property declared. However, you will need to prove that you lent them the money in order to purchase the property and that the money was to be repaid at some point, i.e. when the property was sold.
It may also be worth considering whether the property will have to be sold during the course of any possible divorce proceedings and whether you want the money returned if your son were able to retain the property.
