Verbal agreement

[churchfield]

I recently made a verbal agreement with a family member to buy a property and gave them a cheque for �15,000.00 and later made monthly payments of �380 by cheque towards the mortgage by depositing it into the family member bank account. They handled all the paperwork and did not put my name down on the deeds of the property. Can I reclaim my contribution of the deposit and monthly payments made when the property is sold.

[kempie]

A verbal contract may be as legally valid as a written contract but it is difficult to prove that it exists, since it always comes down to 'your word against theirs'.

My advice would be to formalise any dealings with a written contract.

[PFA]

In the UK a verbal agreement is legally binding - but proving that it exists become a pain. For the value of money involved I would recommend getting something in writing and fast. Even if the member of family is a father / son / brother / sister - getting it in writing IS the best way. And also please retain your cheques and credit slip stubs for all monies paid into the other persons account and become friends with a good solicitor (just in case).

[Hgrove]

As the others say, you need to see a solicitor, and fast. The danger is, if this family member now sells the property on to someone else and spends the money, you'll have difficulty getting the money back from the family member, or chasing the purchaser!  I think the solicitor will register something called a "charge" in the Land Register to show that you have an interest in the property; and will advise you further.

[Mrs_Pegasus]

Who did you make the cheque payable to?

If its a family member then they will have to explain away the reason they were paid such a sum!

My concern is why pay �380 per month, is there a mortgage or did someone else pay for the property?