Q: My mom’s boyfriend has 50,000 from selling a house. He owes money and wants me to hold it for him.
He wants to transfer the money straight into my bank account. Is this money then legally mine? Is there any legal action he can take if I don’t give it back? He has no access to my bank other then him having it transferred
A: If it is not a gift to you, then you are holding it in trust for him, and it would not be legally yours. But he would not have access to it, and if you refused to give it back, then he would have to sue you. If there is no signed agreement stating the terms by which you are holding the money for him, it might be difficult for him to prove in court.
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