Criminal Law Questions? Ask a Criminal Lawyer.
HelloThis is Samuel and I will discuss this and provide you information in this regard.
So what you are doing is loaning money to your family member until he gets his settlement - correct?
I suggest if you have a contract similar to below and it is signed by the Family member in front of a Notary that will be enforceable should they try to not pay as agreed.
And so the contract can readYOUR NAME AND OTHER PARTY agree to the following:1 - YOUR NAME Will loan OTHER PARTY name whatever the amount of money is. This amount is the balance payoff for the vehicle and describe the vehicle.2 - OTHER PARTY agrees to repay the amount, without interest/with interest on whatever date you want the loan repaid by.Should the other party's name not repay as agreed and the matter needs to go to court, the other party's name agrees any and all legal cost needed to enforce this contract will be paid by them.HAVE them sign it in front of a Notary.
I do not participate in phone calls offered by this site. If you have other questions or need clarification, please let me know here.Thank you
If you don't want to draft the contract yourself, you can have a local attorney do it for you.