Free Printable Family Loan Agreement Template
Family Loan Agreement for Both Families
A family loan agreement can be used as a legally binding document between two families. This is also like a contract that lets one family member borrow money from another family member. In the document or agreement itself, usually, it will contain all detailed information of both parties, the amount of money borrowed, payment schedule, terms of the repayment, installation payment, the rate of interest of the payment, and other terms that have been agreed to by both parties. This type of agreement is a legal document that works the same just like other contracts when signed by both parties in front of witnesses.
Other Samples of Family Loan Agreement Form :
Most of the time, this document is very straight forward where all the information about the transaction is included in it. Since the transaction is done between family members, the interest rate can be quite low, and, in some cases, there is no interest rate at all. The terms of payment can also be quite flexible, and it is usually stated in the family loan agreement itself. The template can easily help where you must fill in some detailed information of both parties. Make sure that all the details in the agreement and document are correct before it is signed by both parties. If you think this is the kind of template that you need, you can download it for free at the bottom of this page.
Family Loan Agreement Template | Word – download