Legal Question in Banking Law in Virginia

Do I need a legal document to loan money to a family member? Or can a written agreement between the two of us be enough?

Asked on 2/22/11, 6:35 pm

1 Answer from Attorneys

Michael E. Hendrickson Attorney & Counsellor at Law
0 users found helpful
0 attorneys agreed

Your own written agreement (promissory note) should suffice as long as

the terms of the loan are clearly spelled out and the document is generally

free of ambiguity. (You should not, however, skip the written agreement

and rely on oral promise(s)---family member or not.)

Read more
2/25/11, 8:10 am

Related Questions & Answers

More Banking Law questions and answers in Virginia

Looking for something else?

Get Free Legal Advice

88122 active attorneys ready to answer your legal questions today.

Banking Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Terry A. NelsonNelson & LawlessRiverside, San Bernardino, CA
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now