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berdldoo

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  1. I assume the mortgage lender imposed this condition. Correct? Yes How was the loan from the relative made? Was it by check? Electronically transferred, I believe If so, to whom was the check made payable? Your son only? His wife only? Both of them? $ sent to their joint account
  2. The lender imposed the condition and the money, I believe, was deposited into their joint checking account - the lender (relative) at this point is unaware of this situation, trying to understand the potential options before breaking the news to them...
  3. There were no specified terms of re-payment established at the time as it was agreed to be paid over a TBD period of time once they had their financial feet under them a bit more solidly.
  4. My son and his wife purchased a house, they had to borrow money to fix the sewer as a condition of closing. The money borrowed was from a relative, yet there was no document written up and signed. Unfortunately, my son and his wife are likely going to be getting divorced and his wife says that it's his debt as nothing is contractual. They live in Washington State which is a community property state; my question is, if my son enters into a contract agreeing to re-pay the monies borrowed would it be a shared debt if divorce takes place?
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