
When a loan is deemed a gift
ALAN and Sharon are looking to purchase a new home for $1.5m.
The bank registers a mortgage over the property securing their loan.
Many years later, Alan and Sharon's relationship breaks down.
The loan is not repaid and Vicki commences proceedings against Alan and Sharon.
Sharon files a cross-claim, alleging that the money advanced by Vicki was not a loan, but a gift.