» » Family Loan Agreement Template

Family Loan Agreement Template

Create a high quality document online now!

The family loan agreement is a document that is made between relation by blood or marriage with one (1) acting as borrower and the other a lender. The family member that is asking for the money may be required to pay an interest rate, defined as a percent compounded annually, by the lending party. If so, the lender will be paid back more money than what was originally lent to the borrower. Although, usually funds loaned between family members is not charged an interest rate but depends on the family relationship.

How to Write

Step 1 – Enter the amount of the loan by writing in-full and entering numerically followed by the date of origination.

Step 2 – Enter the borrower’s full information including their full name and address. In the fillable fields after enter the same details for the lender. In Section a below write the relationship of the parties (by blood or marriage).

Step 3 – In Section II, enter how the funds will be paid back to the lender. Choose from once per month, week, or any other option agreed upon by the parties (enter the details).

Below there should be a date entered, whether payments are made on-time or not, that the loan is due and payable.

Step 4 – In Section III, the parties should agree on the interest rate for the loan which cannot be more than the State’s maximum allowed usury rate. The family members may also decide to not have the borrowed money bear interest.

Step 5 – In Section X, the parties should enter the State where the borrower is located as those will be the laws the loan will be under. The State should also be written in Section XI.

Step 6 – In the signature area both the lender and borrower should sign the document with at least two (2) witnesses. Once the money has been transferred and the agreement signed the note shall become legal.

Related pages

wisconsin rental agreementsuccession laws in louisianablank bill of sale for vehiclesecured promissory note template free downloadcredit card authorization form template wordsample living willsdirect deposit chase bankgeorgia evictionbeauty salon lease agreementindiana landlord tenant law evictionholiday inn express credit card authorization formnotice to quit texasrent increase letter to tenant templateeviction sample letterrental agreement marylandmoped salesrental lease agreement oregontenant eviction letter samplerecurring credit card authorization formtricare rxpower of attorney wv3 day notice to vacate texas pdfeviction notice tennesseesample employee loan agreementform2848eviction notice new mexicolease termination templatevehicle bill of sale colorado templateflorida association of realtors contractflorida release of lien formcleaning services invoicetemporary guardianship in oklahomapower of attorney form nebraskapoa car salescalifornia realtors lease agreement3 day notice to pay or quit californiaprime therapeutics prior authorizationnys bill of sale formletter to terminate lease from tenanttemplate eviction noticeroom rent agreement formattn eviction processbank of america direct deposit form for employerbb&t routing number ganotice to vacate from landlord to tenant sample letterusaa savings routing numbermasshealth formscalifornia promissory notevirginia pay or quit noticeboat registration louisianathirty day eviction noticewhat is an unsecured promissory notecommonwealth of massachusetts notary publiccommercial real estate lease templatespace rental agreement samplenc durable power of attorneysample letter for giving notice to landlordfree personal loan agreement form pdffree blank promissory note formaetna prior authorization numberfree printable loan agreementbancorp bank netspendtemplate eviction letteremployee loan form templategeorgia apartment association lease agreementlandlord 30 day notice to vacate californiapromisory lettercourtesy car agreement templatecommercial property rental agreementnotarized templateletter of eviction examplealabama boat bill of sale formpnc address for direct depositeviction process in azsample room rental agreementpnc account numberoperating agreement for a single member llc