Can someone make you sign a promissory note?

i dont thing so, but just in case DONT SIGN ANYTHING because so many things will can can go wrong....%

Sandy S, The reason people are using the word fraud is because you cannot get a mortgage using borrowed money but you can use money given to you with as a gift with no expectation of pay back. To be sure the money is a gift the MIL signs a document called a Gift Letter attesting to what I cited in the beginning and acknowledging the penalties if there is any fraud in the Gift Letter. The couple also knew this was not a gift but a loan so in fact they both committed fraud to get the mortgage. Pojo, if the mil goes to the lender to turn in her son and daughter-in-law she will be admitting she committed fraud too. btw No one can force you to sign a Promissory Note. Do you have any idea why she wants you to. If you don't why don't you just ask her? Has there been some kind of disagreement with her about something else and this is some crazy kind of revenge? Don't sign anything from her lawyer without consulting another lawyer for advice. One consultation shouldn't cost too much.

make you no. A gift is just that. You do know that your mother in law may be liable for the taxes on the $80,000 as it is way over the gift limit. Now to keep peace in the family I would if you knew it was a loan in the first place since you are paying it back

Pojo is right but mom also committed fraud by signing a gift letter as well

She can't force you to sign it but she might have a case in court if she had to take it that far. The "gift" to you was a "low or no interest loan" verses a "high interest bank loan". If she wants to make a legal record of it and you think it is fair then you should humor her and sign it. Read carefully what you sign, have your own lawyer look it over if you want. It was probably her lawyers idea in the first place.

If it is classified legally as a gift I don't think there are any taxes for gifts between Mother and Son up to a certain amount.

Sounds like someone committed loan fraud on that house purchase and that is where the "gift" came from. However, no one can make you sign anything but what's the big deal if you intent to pay it back. At least do one honorable thing or maybe Mom will go to your lender and explain the fraud you committed. Like the house?

Added: Rusty you will note I was the only one who first caught on to the fact this is loan fraud and don't forget a pissed off MIL might do anything out of revenge and yes even lie. They have all proven they are not above fraud and lying through their teeth!

According to Judge Judy weather or not you sign the note you have acknowledged that the money was a loan by making payments back to her. She could take you to court and sue for the remainder. Depending on how her letter is worded you may have a slim chance of maintaining that it was a gift. However, your payments most likely constitute a "new contract" or agreement.

If you are planning on paying her back anyways, why make a big deal out of it? Just sign the note.

I agree you all commited loan fraud and one little clarification to what golfer said and I am sure from previous answers by him/her it was just typed in haste because the answers are always darned accurate. However YOU would not be liable for the taxes but your MIL MIGHT be for gift taxes if that is what you all continue to call this fraudulent mess.