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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34106
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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I need a very short agreement to recognise the fact that my

Resolved Question:

I need a very short agreement to recognise the fact that my wife & I owe a family member some money borrowed. I would like the agreement to state that we recognise the money is secured on the equity in our property. We don't want to have the agreement registered at the land registry for the moment (we intend to repay in the next few months.. it is to ensure that they have some claim if anything happens to us between now and the loan repayment)
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
Is there an existing mortgage on the property?
Clare
Customer: replied 2 years ago.
thx yes with Woolwich
Expert:  Clare replied 2 years ago.
Hi
Then you do understand that no agreement that you sign will in fact ACTUALLY be secure don the property?
Clare
Customer: replied 2 years ago.

yes but presumably she could make a claim on the estate and get a judgement recognising the charge?

Expert:  Clare replied 2 years ago.
Hi
In that case any written agreement confirming that
xxx and xxx owe yyyy ££££ repayable on or before date will achieve that and will be sufficient for the family member to use in the event of a problem.
I hope that this is of assistance - please ask if you need further details
Clare
Customer: replied 2 years ago.

Do I need it to state jurisdiction etc. etc. does it need to be witnessed?

Expert:  Clare replied 2 years ago.
Hi
No there is no need to state Jurisdiction - but if there is some doubt then you should simply say
"we acknowledge that yyyy is entitled to pursue this debt in the Uk shoudl it be necessary"
It should be witnessed by an independent witness - not a family member
Clare
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