About 9 years ago I lent my brother $230,000 to purchase a house in Florida. He placed the house in my name. He paid $260,000 for the house. The house appraised for $100,000 (One Hundred Thousand Dollars) less than the purchase price.
I have been asking him to pay me my money back, he said” it is my house he bought it for me”. Is it too late to sue him?
1 Answer from Attorneys
There has to be more to this story.
When you handed over the money to your brother 9 years ago, what it a loan to him? When was the money to be paid back? Interest? Penalties for non-payment? Did you ask him to purchase a home or invest it for you? Did he purchase the real estate in your name or transfer the real estate into your name when he no longer could pay back the loan? I think you either bought a house with your money and it has simply lost value or he has repaid you $100,000 and still owes you another $160,000. Speak with a lawyer. Our office may be able to assist.