Protect Yourself: Legal Advice on Lending Money to Loved Ones

Lending Money to Family and Friends: A Lawyer's Advice Borrowing or lending money to family or friends can be tricky. Disputes often arise from informal agreements. In France, lending over €1500 requires a written contract. Maître Camps, a lawyer with over 25 years of experience, explains the importance of formalising such agreements. He highlights two options: a simple written contract, easily accessible online, or a more secure notarised agreement. "A well-drafted contract protects your money and avoids future conflict," states Maître Camps. He advises specifying the amount (in both numerals and words), interest rates, and repayment deadlines. While a simple contract is convenient, in case of non-repayment, legal action may be necessary to recover the funds. A notarised act offers more direct legal recourse. The lawyer's advice underscores the importance of protecting oneself legally, even within trusted relationships.