Full question:
If I sign legal papers saying money was given to me as a gift, am I legally responsible to pay it back?
- Category: Gifts
- Date:
- State: Wyoming
Answer:
The answer depends on the specific circumstances, including how the gift was delivered and accepted, as well as any conditions attached to it. Generally, when a donor gives a gift and the recipient accepts it, the donor relinquishes ownership, and the recipient becomes the new owner. However, if the gift has conditions, it may need to be returned if those conditions aren't met.
Gifts are not enforced like contracts because they lack consideration, meaning they are given without expecting something in return. Courts typically do not enforce promises to make gifts unless the recipient can prove they relied on that promise to their detriment. For example, if someone pledges a donation to a charity that then incurs costs based on that promise, the charity may enforce the gift.
To establish that a gift was made, there must be clear delivery by the donor and acceptance by the recipient. Courts have ruled that a gift check is not fully delivered until it is cashed. The donor can revoke the gift before the check is presented for payment, such as by issuing a stop payment order. Ultimately, it will be up to the court to determine if the donor intended to revoke the gift based on the facts of the case.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.