Legal Question in Banking Law in Florida
Recently My father gave me $10,000 to buy a car. It was acknowledged verbally that it would be a loan. Now my siblings are threatening to have me put in jail because he is elderly and has early alzheimers. He lives on his own and still makes his own financial decisions. Should I be concerned and should I have a loan document prepared?
Asked on 2/07/11, 4:32 pm
1 Answer from Attorneys
Alan Wagner
Wagner, McLaughlin & Whittemore P.A.
It would not hurt to have your father acknowledge that it was a loan and for you and he to put something in writing about the terms of the loan (amount, interest rate and repayment terms).
Answered on 2/14/11, 7:43 pm
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