Legal Question in Real Estate Law in Washington

Lending child money for a home

What is the best way to write up a loan to a child, on interest only to protect myself in case of sale or death. Just want the original amount back.


Asked on 8/08/07, 5:13 pm

1 Answer from Attorneys
Elizabeth Powell ELizabeth Powell PS Inc

Re: Lending child money for a home

Start with a promissory note. You can find one on the Bar's website under real property forms.

You can set whatever terms you want. have it signed.

Might be handy to give the money to the child as a gift to the child separately rather than making it a gift to the child's marital community.

Hope this helps, Elizabeth Powell

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Answered on 8/08/07, 5:38 pm


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