In the family or among good friends, people like to help each other financially. Minimum requirements for loans among friends The employment agency demanded from a welfare recipient 117,000. The LSG could not believe the man that it was friendly loans from wealthy cockfighting organizers from Bahrain. The Niedersächsische Landgericht (LSG) Lower Saxony-Bremen has decided that certain minimum requirements must also be met for loans to friends and family who comply with current business procedures.
In the process, a Lebanese-Turkish host family from Hanover rejected the use of basic services of the employment agency. The families received 39 deposits from various shippers from Bahrain, Libya and the United Arab Emirates through the Western Unions cash transfer service, worth around EUR 117,000. This service includes 117,000 EUR. As a rule, the money was paid to third parties in the presence of humans and then passed on to them.
As part of a criminal investigation on suspicion of money laundering, the man said the payoffs had become a loan from Rich. She needed the capital to buy a car, the wedding expenses, a trip to Turkey, and the business obligations of her brother and father.
There was no written credit agreement, interest contracts were prohibited on grounds of faith, and repayment income was a cultural norm. The LSG has reaffirmed the reclamation claim of the employment agency and classified the benefits as family income. In order to reduce the risk of tax fraud, strict conditions for the conclusion and severity of the agreement must be established for credit agreements between friendly persons.
Lending must be clear and unambiguous from a hidden donation or hidden maintenance. According to Celle’s judges, at least the amount of the loan, the repayment modalities and the conclusion of the contract must be seen as indications. It was not enough if, in the case of a loan amount that was excessively large in comparison to the financial strength, the timing and amount of the repayment were ultimately at the discretion of the borrower.
The loan works easier between friends and acquaintances than via loan platforms on the intranet. There are no formal requirements or even the obligation to conclude a loan agreement with a Nottar. It makes sense, however, to conclude the loan agreement in writing. Otherwise, the lender is at a disadvantage in case of dispute. It must be proved that he has given the amount of money as a loan and not as a gift or whether interest has been granted.
If both agree that the loan should be non-interest bearing, it is best to write it off. If interest is to be levied on the loan, you can phrase it as follows: “The loan is due ….. If the deadline has expired, the amount of money must be on the desk, if the borrower fails to pay, the lender can issue a payment order via the local court and, if the debtor does not object, file an enforcement order.
It is easier for lenders to offer their borrowers a security, such as their car, and this is specified in the contract. The debtor only hands over the registration certificate and can continue. The one who wants to agree to such a thing, should use the lawyer and regulate that the lender directly “in the car can enforce the execution” if he does not occupy the agreed fee.
Then the Vogt seizes the car without further ado, buys it and pays the lender what he is entitled to from the proceeds. In this case, the car is sold to the lender. If everything goes smoothly, a lender just has to think about taxes. The lender only has to think about taxes.