Can Loans Made To Divorcing Parties By Their Family Or Friends Be Recovered In A Divorce Proceeding?
In today’s world, it is somewhat common to have monies provided to newlyweds by their parents to assist with the purchase of a home, car, rent or for other expenses, particularly when grandchildren come along. Ultimately, if the parties divorce, can a creditor parent recover this money? What is the burden of proof? What does a creditor parent need to do? What protections are there in the law for a creditor parent? While they obvious answer may seem like “yes”, a creditor parent gets his/her money back, that is often not the case. This blog explores how a creditor parent ... Read More