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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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If there has been a verbal triparty family agreement

Resolved Question:

Hello
If there has been a verbal triparty family agreement which has been in existence in excess of 20 years can one party insist it is not legal wanting to move the goal posts. I would have thought a precedence had been set. Any opinion? Thank you, Robert
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name Alex and I will help you with this.
-Could you explain your situation a little more?
Customer: replied 2 years ago.

Some 20 years ago it was verbally agreed that 3 siblings could use a trust set up by a grandparent to pay for the education. This was used by two of them. The third a 50 yearly brother recently got married and wants his share which he is entitled too. The two siblings that used the funds have agreed to settle on a pro rata basis. Unfortunately the brother will not accept this asking for the full amount used from 1994 plus 7% interest.

Question:

Bearing in mind that two siblings have utilised the agreement does a "Verbal Triparty Agreement set a precedence?"

Please advise.

Robert

Expert:  Ash replied 2 years ago.
Robert yes it does.
A verbal agreement is a contract and if breached you can sue on it. Clearly if there are witnesses it does help, but yes you can sue on it.
Does that help?
Alex
Ash and other Law Specialists are ready to help you
Expert:  Ash replied 2 years ago.
Hi

I am just following up to see if there is anything else I can help with?

If this answers your question might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.

If you need more help please click reply.

Alex