Protecting Loan In Breakup
Summary
Draft a loan agreement specifying repayment terms and consider adding a clause about repayment if you break up. Consult a lawyer to ensure your interests are protected.Full Conversation
My boyfriend wants to buy into a business to become a partner. I am able to lend him the money to do so but how can I protect myself and my money if we break up
Hello ****. It's recommended to:
*. Draft a loan agreement specifying repayment terms.
*. Consider adding a clause about what happens if you break up.
*. Consult a lawyer before signing.
May I know where you're located for specific legal advice?
I don’t necessarily need to be repaid but would like to be if we break up
Hello ****, since you're interested in being repaid if you break up, you might want to consider:
*. A conditional loan agreement, where repayment is dependent on specific circumstances, like a breakup.
*. Legal consultation to ensure your interests are protected.
Can you tell me your location for more specific advice?