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MIAMILAW1127, Lawyer
Category: Legal
Satisfied Customers: 755
Experience:  Founding Partner at Moises Law, P.A.
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I have a question with regards to a Financial Gift. We gave

Customer Question

I have a question with regards ***** ***** Financial Gift. We gave our daughter a financial gift of $30K 2 years ago to purchase a home with her husband. Unfortunately, 2 years later it appears they are going to divorce. My question is whether the $30K gift can be extracted from the profits to her directly before the remaining proftis are divided equally. We do have a notarized Gift Letter to our daugthter only.
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: Florida
JA: Has anything been filed or reported?
Customer: The notarized gift letter was filed with the closing company.
JA: Anything else you want the lawyer to know before I connect you?
Customer: There is a point of contention between the two of them on this issue.
Submitted: 9 months ago.
Category: Legal
Expert:  MIAMILAW1127 replied 9 months ago.

Hello. Thank you for contacting me. I am a consultant here and I am looking forward to assisting you with your question. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Please be patient as I will be typing my responses to you from scratch. Also, I can only answer/address the questions you ask specifically based on the information your provide. Please try to provide as much information as possible so I can best assist you.

Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

The short answer unfortunately is no. Once you gifted the money to your daughter, you are not able to "un-gift" it or get it back. Since your daughter used the money to purchase the marital home, that money now becomes marital property.

The way that the home will be divided in a divorce typically is either by agreement (one party assumes the responsibility for the home) or the property is sold and the net proceeds for the sale are split 50/50 between the parties.

I hope this helps. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Thank you.