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Psyurmh
Posted by
New Member

19 Dec 23 #522180 by Psyurmh

Topic started by Psyurmh

Hi. Can anyone tell me if a loan agreement between my wife and her parents (made during our marriage) would form part of any divorce settlement considerations, and if the loan agreement requires witness signatures in order to be considered.
TIA!

WYSPECIAL
Moderator

20 Dec 23 #522182 by WYSPECIAL

Reply from WYSPECIAL

What evidence of it is there and what was it for?

Is there paperwork and evidence of ongoing regular repayments?

Or did they give her £xxx ages ago and now you’re splitting up it turns out it was “just a loan”?

Psyurmh
Posted by
New Member

20 Dec 23 - 20 Dec 23 #522184 by Psyurmh

Reply from Psyurmh

There is a signed agreement laying out the loan amount, who the loan is from and to (with addresses), the interest rate, that there is no early repayment charge, and that there are 60 days to repay the loan and interest on demand, etc. It is quite formal. Both my wife and I are specified as the lenders on the document.

Also, the principal transfer can be evidenced by bank statement.
I’m just unsure whether a witness to the agreement is absolutely necessary?

Last edit: 20 Dec 23 by Psyurmh.

WYSPECIAL
Moderator

20 Dec 23 #522187 by WYSPECIAL

Reply from WYSPECIAL

I can’t see any reason why it would need to be witnessed. You wouldn’t have to get a witness to your signature for a loan from a bank.

Sounds like it was always intended as a loan. Did you sign it? Are you disputing that the signature isn’t yours?

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Moderators: wikivorce team, rubytuesday, dukey, hadenoughnow, Tets, Shezi, Linda Sheridan, Forseti, Mitchum, WhiteRose, Lostboy67, WYSPECIAL, Bubblegum11

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