Can I borrow $30,000 from my mother-in-law to build a pole barn?

UPDATED: Oct 1, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Oct 1, 2022Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Can I borrow $30,000 from my mother-in-law to build a pole barn?

She is 96 and moved in with us because she has poor eye site. She remembers what she says for a short time. However, she is not fully aware of where she is (i.e. being in our home). We prepare all her meals and my wife is her medical advicate. We need to empty our house to be able to sell it. There is too much stuff to put it into storage units; the cost is prohibitive. We will give the money back after we sell the house, which is worth $40,000 to $60,000.

Asked on October 27, 2017 under Estate Planning, Michigan


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

If your Mother in Law is not competant to contract - which I think is what you know the case to be - then you should think twice about borrowing the funds.  If there are other siblings involved (your wife's) perhaps you could ask them to consent to a loan and then you need to prepare actual legal documents for repayment.  But she is not competant to execute the paperwork.  So someone needs to be appointed on her bhalf and approve that.  Good luck. 

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption