Family loan\investment

[sketty55]

Hi there. I am a resident of Canada. I have a civil litigation issue that occurred in Long Island, NY. Approximately four years ago, my wife and I agreed to proceed with two separate investments with my wife's uncle, who is located in Long Island. The first was a loan of approx. $60,000US which was to be repaid in full plus 10% interest, at the end of one calendar year. To date we have only received $35,000US. We do not have a written contract, but we do have the wire transfer receipt. The wire was sent to his daughter. At this time, we would like our original monies invested returned to us (if we cannot secure the 10% interest, or any additional profit).

The second investment was a wire transfer to secure a bank note for a property in Florida from a colleague that my wife's uncle works with. The total amount was $70,000US. All monies were wired to this colleague in NY. We were provided with a deed to the home, which we later uncovered was never registered with the county, and was not a legal document. We have also requested that all monies be returned in addition to any profit that would equal the value of the property. Approximately $120kUS. At this time, we are requesting that all original monies invested be returned, if the profit cannot be secured).

We are desperate to get our money back and appreciate any legal advice. Thanks!

 

[Proserpina]

Hi there. I am a resident of Canada. I have a civil litigation issue that occurred in Long Island, NY. Approximately four years ago, my wife and I agreed to proceed with two separate investments with my wife's uncle, who is located in Long Island. The first was a loan of approx. $60,000US which was to be repaid in full plus 10% interest, at the end of one calendar year. To date we have only received $35,000US. We do not have a written contract, but we do have the wire transfer receipt. The wire was sent to his daughter. At this time, we would like our original monies invested returned to us (if we cannot secure the 10% interest, or any additional profit).

The second investment was a wire transfer to secure a bank note for a property in Florida from a colleague that my wife's uncle works with. The total amount was $70,000US. All monies were wired to this colleague in NY. We were provided with a deed to the home, which we later uncovered was never registered with the county, and was not a legal document. We have also requested that all monies be returned in addition to any profit that would equal the value of the property. Approximately $120kUS. At this time, we are requesting that all original monies invested be returned, if the profit cannot be secured).

We are desperate to get our money back and appreciate any legal advice. Thanks!

Alas, there is enough money involved that your question does go beyond the scope of an internet forum. You really need an attorney.

 

[latigo]

A $60K undocumented loan? A $70K wire transfer "to secure a bank note"? Geez!

All that loot must have come from an inheritance as you appear to be too ignorant to have earned it.

Whatever, you need to hire an expensive New York lawyer, which is the only way they come. Plus visit a mental clinic for the help desperately needed.

 

[Paul84]

Hi there. I am a resident of Canada. I have a civil litigation issue that occurred in Long Island, NY. Approximately four years ago, my wife and I agreed to proceed with two separate investments with my wife's uncle, who is located in Long Island. The first was a loan of approx. $60,000US which was to be repaid in full plus 10% interest, at the end of one calendar year. To date we have only received $35,000US. We do not have a written contract, but we do have the wire transfer receipt. The wire was sent to his daughter. At this time, we would like our original monies invested returned to us (if we cannot secure the 10% interest, or any additional profit).

The second investment was a wire transfer to secure a bank note for a property in Florida from a colleague that my wife's uncle works with. The total amount was $70,000US. All monies were wired to this colleague in NY. We were provided with a deed to the home, which we later uncovered was never registered with the county, and was not a legal document. We have also requested that all monies be returned in addition to any profit that would equal the value of the property. Approximately $120kUS. At this time, we are requesting that all original monies invested be returned, if the profit cannot be secured).

We are desperate to get our money back and appreciate any legal advice. Thanks!

Sounds like you meet the jurisdictional requirements for the federal court for the Eastern District of New York (EDNY) in terms of amount in dispute and diversity of citizenship of parties. Check out their website at https://www.nyed.uscourts.gov on what to do for a pro-se filing. You also seem to be within the 6-year statute of limitations for an oral (/written) contract (http://www.nycourts.gov/courthelp/goingtocourt/SOLchart.shtml).

You should gather any records of written communication (email, notes, etc) and dates of in-person and remote conversations with your uncle, including recent requests for return of payment and letting the uncle know that you will sue to recover the money, as well as his current whereabouts in New York. Then, if you decide to proceed as a pro-se, there are websites with sample complaints showing how to write one and what information to include. The EDNY site itself may also have this information. If the EDNY is like the Southern District (SDNY), you can do virtually all filings remotely and online (after getting a magistrate judge's permission) via the court's Electronic Case Filing (ECF) system. The initial case-filing fee is now about $500. There are also inexpensive ways for serving the paper copy of the complaint on your uncle.

I'm not a lawyer, but have been litigating remotely from overseas in the SDNY as a pro-se plaintiff. Going to court is a time-consuming process, but if you have the time and inclination, you can save a lot in legal fees. For contract disputes, without express mention of legal fees in the contract, you cannot recover them if you win, and they quickly add up. Good luck.