I have lived with my brother for the past 6 years , only agreeing to do so because he exclaimed it would be a great investment. My total investment to date is nearly fifty thousand dollars , since we have no signed agreement ive starting makeing paper trails to him and his accounts. what kind of chance do i have of recovering my investment in a court of law?
Province/Territory relating to question: Alberta
Hello:How has the money been invested?
The money invested was in the form of cash deposited in a bank account with receipts signed by me . The account is my brothers. The title of the property is also in his name. But i am the only full time resident and the custodian of the property.
Relist: Other.took to much time
You can sue your brother based on a claim that he is holding the funds in trust for you, and claim that no matter that the account or property may be in his name, the funds put into the property or account is yours. This is a well recognized type of claim. If you actually gave him cash that he put into an account in his name, this is called a " resulting trust", and you can seek a court order that he pay you the amount held in such a trust.You can also claim a " constructive trust" , which is where you cannot perhaps point directly to cash in an account hat you paid, but to assets that he owns that you have contributed towards to help acquire the asset or helped to maintain or increase the value of the asset. This cold include paying towards housing bills for a house in his name, or contributions of your own labour such as repairs to the property. You would be able to seek compensation from him for the amount of the contributions you have made and the value of those to the property that he owns. So it is very important that you keep track of what is paid to him what is paid towards bills or repairs for his property and also your own time or "sweat equity" in as much detail as possible, as this can help to substantiate the amount owing to you.