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Legal rights in a personal loan

MonaPizza · 2013-07-04 17:18:29

Here's the situation. I loaned a sum of money to a person. That person signed a document stating it would be paid back on a certain date. The document was signed and witnessed by the borrower, myself and a third party witness. The document states that if the loan isn't repaid by a certain date then I take full ownership of…

04-07-2013 5:18pm

#1

MonaPizza

Registered Users, Registered Users 2 Posts: 1,014 ✭✭✭

Join Date: April 2013

Posts: 992

Here's the situation.

I loaned a sum of money to a person. That person signed a document stating it would be paid back on a certain date. The document was signed and witnessed by the borrower, myself and a third party witness. The document states that if the loan isn't repaid by a certain date then I take full ownership of certain assets in that person's business...equipment etc.
The loan is taking longer to pay back than anticipated and I'm getting a bit nervous. It was a loan made via bank transfer so the paper trail is there too.

Am I being paranoid?

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