My parents purchased a condo under my name, can they legally take the condo back?
<p>I live in Ontario, Canada. Due to conflict with my parents, they are claiming that by law they can force me to give back the condo to them (or repay them the amount of the purchase) since they paid for it. Is this true?</p>

<p>The condo was paid in full and it is under my name only. I did not sign anything in relation to the condo with my parents; they basically sent me a cheque and asked me to deal with a real estate agent who is a friend of theirs.</p>

<p>The original intent was giving me the condo as a gift, but there isn't any written agreement.</p>

<p>I have also been paying the property taxes and condo fees.</p>

<p>If it looks like a gift and sounds like a gift and there is no evidence that it should not be considered a gift, well, what else could it be?</p>

<p>Given the value of a house and depending on jurisdiction, there may be a gift tax involved. This is normally an obligation placed on the giver, not the receiver. It is unlikely to be a concern to you but a separate check would be wise for your own sake.</p>

<p>If all ownership documents are clear that you <em>and you alone</em> own (and pay regular costs of, and maintain) the house, it is extremely unlikely that any private individual can take it away from you, regardless of their relationship to you.</p>

<p>There doesn't appear to be any legal basis for their claims; they are hoping you will bow to social and emotional pressure. Your best course of action is to call their bluff. Request a written statement (ideally through their lawyer) that identifies the reason for their claims of ownership or otherwise why the property should be transferred to them (ideally checked by your lawyer) and proceed from your lawyer's advice.</p>

<p>I presume you were given cash with the intent that you buy a condo, which you did. <a href="https://finance.zacks.com/canadas-gift-tax-law-8205.html" rel="nofollow noreferrer">There is no gift tax</a> on cash, and you were given cash. There are theoretically ways in which an apparent gift isn't one (the giver is incompetent – perhaps they are not legally allowed to give the money away, or did not intend to transfer all rights, or did not transfer ownership...). See <a href="https://law.stackexchange.com/questions/24391/can-you-take-back-a-gift">this question</a> on gift-backsies.</p>

<p>They probably couldn't force you to return it, but if the gift was made at a time when they were insolvent, their creditors, if their creditors acted swiftly enough, could probably undo the gift as a "fraudulent transfer" from which they could collect your parents' debts.</p>

canada real-estate civil-law family-law ontario