North Carolina  |  Investment Law

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12/05/05, 1:22 pm

Legal Question


Ensure payback

I am planning to loan a family member money to rehab a home that he is about to purchase and flip. He has promised to repay the loan plus 5K when he sells the renovated property in 120 days. How best can I legally ensure that he keep his word. I do not want to accept his offer to go on the mortgage with him.... because I would be responsible for the loan should he default. Is there a document that i could get him to sign that would have legal recourse?


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