Let's say a mother loans her child the money to buy a condo with. The condo is under the child's name, so legally, he is the owner. However, his mother is the one who provided the funds. Is there anything she can do, to ensure that her loan is secure? For example, let's say the child gets married, and then divorces. How to prevent his ex-wife from taking half of the condo?

Thank you.

This post was edited by JessiWan on Jan 27 2024 11:15am

If it's a loan just have a drawn up loan agreement by a lawyer and stipulate that the mother has first right to the condo as collateral.

Division of assets will happen in the divorce the condo may be liquidated, the mothers proceeds are returned and the excess value if the condo appreciated is added to the pool of assets to be dealt with during the divorce proceedings.

Seek legal counsel to confirm

This post was edited by SBD on Jan 27 2024 01:47pm

If he’s married and the condo is in his name, depending on state laws, how long they were married for, what the expenses between them were - the likelihood is the equity in the condo will be split between son and ex wife

Unless there was a contract prior that the wife also signed honoring the mother’s contribution and stake, the son would have responsibility paying the mother but I don’t see how the ex wife would be involved

Assuming ofc that $ went from mothers account to sons, and not directly to the condo loan. Also assuming the son didn’t claim the $ as a gift and paid taxes on it, and instead paid no taxes on the $ hence treating it as a loan

Not a lawyer ofc , let us know what happens I’m curious

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Thank you to both.







I will, sir.

Btw, this is in Canada, so it will probably be different for you guys in the States.