My spouse gifted me a fairly large sum of money. He took one of my deposit slips from my sole and separate bank account and made a deposit in to that account. The deposit came from his sole and separate bank account. Now that we are divorcing he is trying to set up loan documents and pretend that the transmutation of separate property to separate property was actually a LOAN and not a gift. So far he has drafted two different kinds of loans with two different % rates. One is an interest only loan and the other is proposed as a typical bank loan with 4% interest and mortgage like payments. Does his back peddling and attempts to change a GIFT IN TO A LOAN hold any water in a court of law?
1 Answer from Attorneys
Not if you didn't/don't sign them.