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Parents Gifting Property Deposits? Here's What Could Go Wrong - Coutts Lawyers & Conveyancers
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Parents Gifting Property Deposits? Here's What Could Go Wrong - Coutts Lawyers & Conveyancers
Co-Authors: Melissa Care, Grace Jolly & Tiffany Craig. KEY INSIGHTS: If parents are helping their child with purchasing a property it needs to be clearly stated if it is a loan or a gift. A partner can claim a share of their ex-partners property after 2 years of living together. Courts will look at contributions of both parties not just whose name is on the title of property. WHEN PARENTAL GIFTS COMPLICATE PROPERTY SETTLEMENTS When a parent giv…
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