This has been bugging me for a while.
Back story: Mrs. Toon's folks are fairly well off. To the point where my FIL's estate(he passed away about 3 years ago) by his will decrees his 3 three grandchildren will each get 10%. Additionally, yours truly was named as the administrator of his grandkids trust until they turn 40. (I'm not at all excited about the prospect of this.) Before his passing, FIL indicates to me he wants his grandkids to at least have a house to live in. Cool.
Anyway, eldest grandkid decides he needs a house now. (There's an immense story behind this. The short version is he, who turns 30 next week and still lives with his dad, has a girlfriend, who lives with her grandmother. I could not care less about that; the few times I've met her, she seems like she's got her collective fecal matter together.) House is selected. "Grandmommy's" initial thoughts is that she would outright buy the house and "rent" it eldest grandkid. (Turns out the option that provides her with the best legal and financial tax coverage is to outright gift the house to him, with the provision of the current market value of the house is deducted from his 10% when she departs this earthly realm. While I don't care, it's her money, the final decision has yet to be made.)
Here's where it gets interesting. The house has solar panels. (not a bad thing, it dramatically lowers the monthly electric bill.) The story is there was a loan, separate from the mortgage, for the solar panels. Plausible. What I don't believe is the sale price of the house didn't include the balance of the solar panel loan. Here's where it gets even more interesting. Somehow, the eldest grandkid's name ends up on the title of the house, along with grandmommy.
Sidebar: Eldest grandkid's new stepdad is a realtor and provided his services, apparently cost-free, for this transaction. Additionally, said stepdad also manages upscale condos where one of his clients recently decided he no longer wanted his (furnished) condo and had the stepdad get rid of the furnishings of that condo. Guess where the bedroom furnishings and the living room set (including a wide screen) end up?
Here's why it gets even more interesting. The eldest grandkid's story is that he couldn't pay off the balance of the solar panel loan unless his name was on the title. Which I doubt. Further, until recently, this kid only worked part time at a radio station and was making ~$10/hr. (He now works full time at the VA as an paper shuffler, making ~$14/hr.) He has claims he paid off the solar panel loan as of last week. Where the hell is he going to get enough money to payoff any loan? (He is also driving a pickup he got from a 'loan' from Grandmommy, which I doubt he has paid off, much less still making monthly payments.)
Grandmommy seems to vaguely recall someone briefly mentioning a kickback. But has no other details.
Here's what I think has happened. The Grandkid's name had to be on the title for him to get the kickback (instead of grandmommy). The kickback, if it existed, was at least the balance of the loan, more likely in excess of, otherwise why offer the kickback? Grandkid, with help of stepdad, gets the kickback and pockets the difference. Christmas is coming up. I bet the girlfriend gets a fairly large rock as a present.
So, what's the legal term for this? Besides being a douche bag. Embezzlement? Larceny?