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Posts tagged Gifts.
Posted in Real Estate

Many readers would be surprised to know that where you purchase real property with money provided from a third party there is a presumption that you are purchasing that property, or interest in that property, on behalf of the third person.  This is called the doctrine of “purchase money resulting trust”.  Until recently, there was some question as to whether this remained ...

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In the undocumented world of family relations and finances, money is often provided by one person to another without the exact nature of the transaction being discussed, understood or documented.  Mum provides $20,000 to child to be used towards the purchaser of a house or to fund a year at school.  Granddad pays $15,000 towards a grandchild’s purchase of a business.  Is this ...

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