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Car Payment or Gift?????

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wileybabe

Junior Member
What is the name of your state? Colorado

My grandparents bought me a car as soon as I got my drivers liscence. They told me to pay $2,000 on it and the rest would be a gift from them. There was no written contract about this at all. The title of the car is in my name as well as the car insurance. I received a letter from their attorney today stating that I owed them $12,000 and if I did not start making payments within 10 days of the letter that they would force me to pay the entire amount. What are the legalities of this issue?
 


anteater

Senior Member
1) You agree to pay them and be done with it.

2) They sue you.
a) They claim it was a loan.
b) You claim it was a gift.
c) Both of you make your arguments.
d) The judge decides.
 

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