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Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 53996
Experience:  Attorney with 29 years of experience.
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My brother and I were loaned a piece of property by our mother.

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My brother and I were loaned a piece of property by our mother. My brother passed away without a will and he has a son. I have a family as well. Now that I have paid everything off I would like to return the property back to my mother. What must I do next?

Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good morning. When you say "loaned" a piece of property, what does that mean? Was title transferred to you? Was a promissory note signed? Or, was their simply a verbal understanding that at some point you would re-convey the property to your mother? Thanks.

Customer: replied 4 years ago.

The property was signed over to my brother and I. The amount of $10.00 was paid with a lawyer present. The understanding was, we ( my brother and I) would return the property back to our mother once our business got up on its feet.

Thanks. The brother's son takes the property with the same conditions as the brother had...i.e., to re convey the property to mother. The problem is if there is no written agreement to do so. Absent a written agreement and if the brother's son's guardian will not agree, then you have to file suit to enforce the verbal agreement. The lack of a written contract can be overcome by the
concept of promissory estoppel, detrimental reliance, and unjust
enrichment. This situation arises when Person
A relied upon the verbal agreement, Person A performed based on such reliance,
and because Person B defaulted, such reliance is now to Person A's detriment. Where there is i) partial performance by
Person A based upon the mutual promises, ii) Person A relied upon such promises
to perform, iii) Person B's failure to perform would be to Person A's
detriment, and iv) result in Person B
being unjustly enriched, Person A can overcome the legal requirement
that the agreement be in writing.



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