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Jane Doe Deer
Jane Doe Deer, Attorney
Category: Business Law
Satisfied Customers: 3864
Experience:  Atty since 1986. Real estate, tax, and other business law questions
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My 88 year old husband and a male friend jointly purchased ...

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My 88 year old husband and a male friend jointly purchased a building 10 years ago. Back then, my husband thought that he and his much older first wife (by 9 years) would probably not survive all that much longer and my husband told his friend on several occasions that he would probably want to give the building to him after both of their deaths. Well, things change. My husband''s first wife died and my husband is the picture of health since he married me 5 years ago. My husband wants to give me his share of the building but the friend says that the share was verbally promised to him. Is a verbal promise the same as a binding contract?
Submitted: 6 years ago.
Category: Business Law
Expert:  Jane Doe Deer replied 6 years ago.

Thank you for contacting Just Answer.

No, your husband does not have to leave the building to his friend. It is a promise but it is not a binding contract by any means.

However, when your husband and the friend purchased the building, did they buy it as tenants in common (I hope so) or as joint tenants (I hope not).

If they bought it as joint tenants the friend may get the building upon your husband's death - you need to talk with a real estate attorney.

Otherwise, your husband can leave the building to anyone he wants.

 

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Jane Doe Deer, Attorney
Category: Business Law
Satisfied Customers: 3864
Experience: Atty since 1986. Real estate, tax, and other business law questions
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