What is the name of your state? NJ
My mother gave me a gift of $150,000 to buy a house in Mexico 3 years ago. We orally agreed to have me pay what I could. I was sendinding her $600 per month while the house was rented. It was not rented for the last year and I did not pay her. In Feb. she asked me to sign a note and put a mortgage on my house in NJ. I gave her a note (with no mortgage) and she was not happy with it . I recieved a letter stating that I would be sued for the full amount. What is my liability?
My mother gave me a gift of $150,000 to buy a house in Mexico 3 years ago. We orally agreed to have me pay what I could. I was sendinding her $600 per month while the house was rented. It was not rented for the last year and I did not pay her. In Feb. she asked me to sign a note and put a mortgage on my house in NJ. I gave her a note (with no mortgage) and she was not happy with it . I recieved a letter stating that I would be sued for the full amount. What is my liability?