Legal Personal Loan Document Template

Our attorney crafted loan agreement is a legal and binding contract between a lender and a borrower that can be enforced in court if one party does not hold up their end of the bargain.

Legal personal loan document template. Filling out a simple loan agreement ensures that there is no confusion between the lender and the person in need of funds. Our sample legal documents are provided for informational purposes only and should be reviewed by an attorney in your jurisdiction. As a lender this document is very useful as it legally enforces the borrower to repay the loan. 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.

Its primary function is to serve as written evidence of the amount of a debt and the terms under which it will be repaid including the rate of interest if any. The borrower promises to pay back the loan in line with a repayment schedule regular payments or a lump sum. Updated december 10 2019 written by susan chai esq. Legal templates cannot and does not provide legal advice or legal representation.

You can find practical colorful files in word excel powerpoint and pdf formats. The form can also create an amortization schedule and calculate the paid in full date. It is always advisable to get your personal loan agreement in writing to avoid possible disputes. A loan agreement is a written promise from a lender to loan money to someone in exchange for the borrowers promise to repay the money lent as described by the agreement.

A loan contract template takes the difficulty out of designing a concise and precise document. A loan agreement is a document between a borrower and lender that details a loan repayment schedule. A personal loan agreement template is a document that anyone can use to protect themselves as a lender. Lawdepots loan agreement can be used for business loans student loans real estate purchase loans personal loans between friends and family down payments and more.

Tidyform provides a large number of free and hand picked simple loan agreement template which can be used for small medium and large sized enterprises. Our personal loan agreements cover all loan basics such as loan amount repayment options and default consequences. 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.