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Legal documentation for Loan to sibling
25-Sep-2023 (In Family Law)
Hey, My sister wants to go abroad for studies. Can i give her a loan of around 20 lakhs with any solid documentation? I wish to give her a loan of 20 lakhs,ill charge some p.a. interest on the principal and she'll have to pay me back the full principal and interest in a fixed time. Is there a way that i can legalise this thing? Just in case she doesnt pay me back, can i drag her to court on the base of some legal document? What would be the legal documentation?
Yes, as per your requirement, a legal document can be made. For your convenience it can be drafted by us, as we specialize in drafting of all legal instruments/documents. Incase you wish to be legally sound for the rest of your life you may contact us.
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Adv. Vibhu Verma
Noida | 25+ Answers
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It is very simple. You can give her a Loan. For that you need to execute a Memorandum of Understanding along-with you are suggested to take post dated cheques from her in advance. Further transfer the money to her only through Bank.
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Adv. Anurag Garg
Ghaziabad | 25+ Answers
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Putting the agreement in writing not only protect both the parties but also relationship .yes it could be legalise there are two ways 1.promissory note 2. A detailed loan agreement ,both are valid in court ,you can choose either .For further details your documents need to studied .
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Adv. Rishi Kumar
Allahabad | 200+ Answers
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yes you can give loan to your sister by signing a registered contract paper through lawyer .you can also drag her in the court if she doesnt want to pay your money and have malafiede intention but you have to wait till she is capable to return your money.because if doesnt
have money or property how can she able to return you .
have money or property how can she able to return you .
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Adv. Lubna Ishrat
Noida | 200+ Answers
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