loan from friends. how to ensure security

I have many properties which have been acquired using housing loans. The value of many of these properties is about 5 times their outstanding loans. I am in need of money but am not able to sell any property at market value since the economic conditions are not favourable. Banks are not able to extend additional loans because my cash flows and income is currently lnot good . I have friends who may be willing to give me temporary loan but I am not comfortable unless I am able to offer them some security. Is it possible to do a legal paperwork to secure my friend who is the lender and register it so that both are protected?

Answers (1)

298 votes
You can enter into an agreement with the friends wherein the creditors (your friends) have the right to recover the money from the debtor in case you fail to repay it within the stipulated time, specificallly by sale of the said proeprties . This will offer them the comfort which every creditor looks forward to at the time of giving the loan.

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Recovery Lawyers

Advocate Rajesh Rai
Sector-19, Dwarka, Delhi
21 years Experience
Advocate Sunil Kumar Bakshi
Sector-16, Faridabad
34 years Experience
Advocate J. P. Rinwa
Swej Farm, Sodala, Jaipur
20 years Experience
Advocate Jaspreet Singh Rai
Greater Kailash 1, Delhi
18 years Experience

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at and has been responded by one of the Recovery Lawyers at to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at or contact a Lawyer of your choice to address your query in detail.

Related Questions

" has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Related Articles