How do I document a loan made by me to my Mother to assist her in buying a property.?
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You can get a form for a simple note evidencing a debt on the internet. Its not a big deal. Simply specify the amount and the terms (rate of interest, when due, etc.).
If the money is lent, there will be a valid debt of the estate evidenced by the note whether you secure the note by a lien on the property or not. Having the security of the property protects you in the event the estate has unsecured creditors in excess of other assets of the estate. But assuming the inheritance tax applies to the net estate (after payment of creditors), there is no estate tax penalty of making the loan on an unsecured basis.
To record the lien, you typically have to file the mortgage instrument with the local recording official,and pay a small fee. this puts other creditors on notice of the debt.
How do I document a loan made by me to my Mother to assist her in buying a property.?i think you are trying something dodgy here and you will get caught and will be convicted of fraud, no bank will give a 77 year old women a mortgage unless she has a full time job cos they know that she cannot pay it back, stop trying to rip the system for your own personal profit that is a s in and you will go to hell and live eternity as satins b iatch
How do I document a loan made by me to my Mother to assist her in buying a property.?i think that the below website will help you to find the right solution
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