Q: A son talked my 87 year old dad into taking out a $200,000 loan saying I have property I can build us a big home
Where you all can live too. He sold the property and didn’t. The son is paying loan monthly but my dad needs it now. Legal recourse?
A:
In a situation where your 87-year-old dad took out a $200,000 loan based on his son's promise to build a home, legal recourse may be possible depending on the specifics of the case. It's crucial to consult with an attorney who specializes in contract and elder law to assess the situation thoroughly.
Your dad may want to explore options like reviewing any written agreements or evidence of the son's promise to build the home. Additionally, you should consider discussing the matter with an attorney who can provide guidance on whether there are grounds for a legal claim, such as fraud, misrepresentation, or breach of contract.
Keep in mind that the outcome will depend on the facts and documentation related to the case, and legal advice from a qualified attorney is essential to determine the best course of action for your dad's situation.
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