Wording used in a private lending contract

3 Replies

Hello everyone! So a close family member is willing to lend me a good sum of money to help me get my feet off the ground. My partner and I want to come up with some sort of written agreement for the terms. Just wanted to hear or see some examples of contracts you all have used in similar circumstances. Is there some sort of template? Something that outlines the deal, percentages, term of loan, payment plan proper verbiage I should use etc. Just figured someone here has to have experience with this. Thanks!

@Account Closed a local title company or attorney will have one you could use.  The big question is do you want documents by default or by design?  Getting someone's forms are fine, but I'd always suggest fine-tuning them to your own situation.  You can always have an attorney review afterward if you're concerned about any changes you've made.

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