Lending money to family member

countrybelle

I was with a client, left the window open on my iPad. My other half does not have the cash to lend it, otherwise he would. I only asked if anyone had a loan agreement template. I have bought one. I have thought about keeping it in my name but as it states on the v5 it doesn't mean I own it. I will keep a key though, just in case.

Guest101

reneobscene wrote: »

I was with a client, left the window open on my iPad. My other half does not have the cash to lend it, otherwise he would. I only asked if anyone had a loan agreement template. I have bought one. I have thought about keeping it in my name but as it states on the v5 it doesn't mean I own it. I will keep a key though, just in case.

The V5 is the registered keeper.


Al you need is proof of ownership - a receipt and proof of payment will do.


As for a loan agreement.


here you go:


Person A (Lender) : your name


Person B (borrower) : her name


Person A lends Person B the sum of £X,000 on YY.YY.15


Person B promises to pay back the sum of £ZZ0(0?) every month for a period of AA months, on the BBth of the month.


The first payment date will be:
The last payment date will be:


Signed,


Signed.


- Copy to both. Money transferred, not cash.


- Done.

Pollycat

Do you have any reason to believe she will renege on paying you back?
You did say that she earns a good salary.

As for saying that posters have 'judged too quickly', you did post:

reneobscene wrote: »

Hi all, I would like to lend some money to a family member but wish to have an official legal agreement.

and then went on to post:

reneobscene wrote: »

Sigh bloody kids.

so it wasn't unreasonable for people to assume the 'family member' was your daughter, not your partner's.

As I posted earlier, I've loaned a reasonable amount to a close relative.
The nearest I got to making sure I will get the money back was to warn her that if she doesn't pay up, she'll be meeting Judge Rinder up close & personal - she found it as funny as I intended it to be. :rotfl:

Homeownertobe

Petra_70 wrote: »

Hmmmm, it seems the OP is struggling to come up with a reason why their partner is not lending the money to his daughter. I have asked twice now, the first time 25 minutes ago, and I know the OP is still here, and is still viewing the thread; yet they've not answered this question. :huh:

Some VERY loud alarms bells ringing here.

Don't do it. Just don't.

You don't have an entitlement to an answer.

Petra_70

Homeownertobe wrote: »

You don't have an entitlement to an answer.

No help or advice for the OP whatsoever! You just posted to have a dig at me.

Well done. Great contribution to the thread. :T

MothballsWallet

OP, I'd advise against lending money to a family member or friend.

I did the latter and regret it as the **** is highly unlikely to repay me.

LilElvis

OP - why don't you lend the money to your partner so that they can can, in turn, lend or give it to their child? Your partner then repays you every month and it is up to them how they wish to deal with their child.

VfM4meplse

MothballsWallet wrote: »

I did the latter and regret it as the **** is highly unlikely to repay me.

I bet this has soured your relationship with the aforementioned. That's why you shouldn't lend unless you're prepared to ditch any illusion that you'll see the money again.

pollypenny

HappyMJ wrote: »

A car...is that all this is over. Get the bus...save the money then get a car. Car's are not cheap. I don't have one. I walk, get buses and get the occasional taxi. I get my food delivered for £1 on a Wednesday from Morrison's. Everything I need gets delivered. I rarely have an actual need to go out and visit a shop.

I'd actually save the money and get a better property. One which can be used as an address to get credit. I imagine the address is something like 52A High Street and that address does not exist as the property has been split without permission.

Get the bus! In many places you'd hard put to to find a bus going to the place you need for work.

Pollycat

pollypenny wrote: »

Get the bus! In many places you'd hard put to to find a bus going to the place you need for work.

Not so simple as it sounds.
The OP's partner's daughter may work nights.
Or live in a place where there are only a couple of buses each day.
The OP did post this:

reneobscene wrote: »

Petra, I did the search myself. In our village there was a fire that wiped out all records some 400 years ago, this property got missed having been owned by the same family for long time. It was recently sold and so far it has two names, both of which are not on the royal mail system as it used to be attached to an Inn. It's quite a pickle we are all trying to unravel.

so I don't think it's unreasonable to think that public transport is not a viable option.
Living in a village is not like jumping on the #41 bus from the outskirts of say, Manchester where the buses may start at 4am and run every 10 minutes.