Legal Question in Business Law in Oklahoma
Notary
I am going to loan a friend money. I drafted a loan document that we both will sign. Should I have this notarized?
Asked on 5/31/08, 8:48 pm
2 Answers from Attorneys
Re: Notary
Yes. I am a notary and I would recommend that you notarize anything action or document that is binding and subject to legally actions. This notarized authenticates and action and makes it binding.
Answered on 6/24/08, 6:19 pm
Charles Aspinwall
Charles S. Aspinwall, J.D., LLC
Re: Notary
It does not need to be notarized to be legally effective, but it wouldn't hurt. Also, more importantly, the loan needs to be secured by a mortgage or security interest in real or personal property worth twice the amount of the loan. You would be well advised to have an OK lawyer attend to the details of this loan. Loans between friends are notoriously risky.
Answered on 6/01/08, 12:36 am
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