Legal Question in Banking Law in Missouri
I want to make a loan to my daughter who is in grad school. I want the payments to be deferred until 6 months after she graduates. Is this legal and if so does the interest have to start with the onset of the loan or can that be deferred as well?
Asked on 2/27/12, 3:51 pm
2 Answer from Attorneys
Anthony Smith
LawSmith
It seems possible to prepare a loan agreement or note that acts as you propose. There are several clauses that can satisfy the statute of frauds issues. There are probably several attornies in your area that could draft the agreement for you or your daughter. There may be advantages to you for her attorney to dtaft the agreement.
Good luck
Answered on 3/08/12, 3:13 am
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