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money loan Need some legal advice regarding a loan im making (0 viewing) 
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TOPIC: money loan Need some legal advice regarding a loan im making
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godisnumerouno (Visitor)
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money loan Need some legal advice regarding a loan im making  
Id like legal advice and/or  any 'good' advice regarding loaning some money to a very close friend i grew up with :  I want to be an Investor in a first house my friend wants to buy ;  i want to loan her  deposit money of $10,700  under a written agreement between the two of us. I dont require this money to be repaid until such time as she sells this house or in -blank- number of years from date of purchase (havent decided on that number yet). Id like my loan to be an investment for me whereby whatever the amount of 'Equity Percentage Increase' is during the time she has the house...is how much my investment will have accrued. IE : If her house costs her $100,000 to buy and she sells it 5 years down the road for $125,000 ... that equals a 25% increase of Equity ; therefore, my $10,700 would be multplied by 1.25 and i will have made 25% on my investment. THis of course would be paid to me from her house closing proceeds. Does this sound fair and equitable to both of us ?   Are there any considerations which need  to be pondered ???? Any specific verbage which i should include in our Agreement ? Thanks for y our help and advice. I shall check back in a day or two to see if anyone has replied. Dave
 
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money loan Need some legal advice regarding a loan im making
godisnumerouno 2008/05/04 17:54
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