Expert: Sue Bernstein - 4/19/2004

Question
My daughter's boyfriend(now an ex) loaned me $4200 to buy a house. I said 50% of the home is his upon my demise. Nothing written. I was laid off in January this year. The house has appreciated. I want to sell. He said he should be involved in that decision. Your opinion?

Answer
Dear Gerry,

You are really asking me an ethical question and not a real estate one.  It really comes down to whether you are going to honor your word.  If you have nothing in writing he may not have a legal claim on the property and as such may have no right in the decision making process.  Verbal contracts are not necessarily binding in real estate. I would suggest you consult an attorney and find out exactly what rights he has.  

Good luck and I hope this helped.

Sue Bernstein