Loan agreement

Thu, 12 Jan 2012 08:23:36 -0600

My Dad is going to let my soon to be ex and I borrow $4,000 to cover a debt that we both incurred in the marriage. This debt has to be paid by next week. My ex and I came to an agreement that we would pay my Dad back with our tax return money. Is it a legal binding document if I prepare something to the line of....:

John Doe and Mary Doe accept a loan from Mike Smith in the amount of $4,000 to cover a pending debt. John Doe and Mary Doe promise to pay Mike Smith the sum of $4,000 as soon as they receive their 2011 tax return monies.

(Then have signatures for all and have it notarized)

My Dad does not trust my ex and he rather have something in writing. (I don't blame him)