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bap516 · Joined: 29 Dec 2008 Posts: 1 1.64 Dollars($)

My wife wanted her mother to live with us so we bought a bigger house. Mother in law gifted $157,500 to us to put towards the house because she did not want to be on the mortgage and we financed the remainder of $210,000. We put her on a joint tenancy with rights of survivorship deed so she could have control over the house if anything happened to us. Things have since gone bad and she said she wants us to sell and give her $157,500 back. What rights does she have to the property and the money she gifted to us? This is in Florida. Thanks.

jameshogg · Posted: Mon Dec 29, 2008 9:19 pm Post subject:

Hi bap,

As a joint tenant she also has ownership rights to the property. But you should note that once a joint tenancy is created no joint tenant can sell his or her interest in the property without terminating the joint tenancy. So if she sells her portion of the property to recover the amount, then she will be terminating the joint tenancy.

As she has invested her money she may ask you to pay her off. If you can pay her off without selling the property, then you can do that or else, I think you will have to sell off the property.

Thanks

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