19 March 2018 10:19 am
Australia, (Daily Mail), 17 March 2018 - -A Melbourne mother has sued her son over an alleged unpaid home loan, as more parents using their finances to help their children enter the increasingly competitive property market.
Lalanah Brujah took her son Taras Wolf to court last week over what she claimed was the remaining balance of money she lent him to buy a house in the inner Melbourne suburb of Collingwood in 2001.
During the hearing at the Melbourne Magistrates Court, the court heard that Ms Brujah had covered the deposit, settlement and stamp duty for the property when it was purchased for $500,000, according to domain.com.au.The mother-of-three alleged she is still owed $289,800 from the initial payment made when her son was in his late 20s. Despite his mother’s claims, Mr Wolf, who is now an award winning architect with Melbourne-based firm, WOLF Architects, said the money was a gift.
Mr Wolf said there ‘there was no loan’ and ‘no discussion of payments’ during the purchase.