Lending Money

O. Mahalakshmi (Querist) 16 September 2009 This query is : Resolved
Please give me advise regaurding this following matter.

My father want lend money to his friend Rs.100000/-. But there is a house on the name of his friend's wife. Shall we get sign of both the couple in Rs.100/- stamp paper and promissory notes. Is this enough or require some more.riven

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R.R. KRISHNAA (Expert) 16 September 2009
Option 1: Lend money to both the husband and wife and make them joint promisors in the promissory note.

Option 2: Otherwise the wife can be made as a guarantor for the loan availed by the husband.riven