What is the name of your state (only U.S. law)? Florida
In 2002 my grandmother gave me money for a down payment of a house as an investment for her and she would be repaid. My mother co-signed for the house with the verbal agreement that we would split the proceeds when the house was sold and my grandmother was repaid. I have lived in the house and rented out the other rooms since 2002. My mother has never lived there.
In 2007 my mother and I refinanced and took out some equity. We repaid my grandmother with interest and she is off the deed. The rest of the money from the refi went back into the house, to myself for personal use and to my mother for personal use.
I got engaged and my fiance and I planned on living in house after marriage. I asked my mother to give me her stake in the house before I got married and she agreed.
I am now married and my wife and I wanted to refi to get her on the deed and my mother off. At this point my mother demanded $10,000 to sign over her stake of the investment. We do not have 10k nor is there any equity left in the house and did not agree to pay. I told her there was no equity and she could either give us the house or she could have it to sell since there was no equity. She has since ended communication with me and has not responded to calls and letters trying to resolve this.
How do I get her to act on this?
And if something happened to me before resolving this what rights does my wife have?
In 2002 my grandmother gave me money for a down payment of a house as an investment for her and she would be repaid. My mother co-signed for the house with the verbal agreement that we would split the proceeds when the house was sold and my grandmother was repaid. I have lived in the house and rented out the other rooms since 2002. My mother has never lived there.
In 2007 my mother and I refinanced and took out some equity. We repaid my grandmother with interest and she is off the deed. The rest of the money from the refi went back into the house, to myself for personal use and to my mother for personal use.
I got engaged and my fiance and I planned on living in house after marriage. I asked my mother to give me her stake in the house before I got married and she agreed.
I am now married and my wife and I wanted to refi to get her on the deed and my mother off. At this point my mother demanded $10,000 to sign over her stake of the investment. We do not have 10k nor is there any equity left in the house and did not agree to pay. I told her there was no equity and she could either give us the house or she could have it to sell since there was no equity. She has since ended communication with me and has not responded to calls and letters trying to resolve this.
How do I get her to act on this?
And if something happened to me before resolving this what rights does my wife have?