The Trouble with Family Loans: A R540,000 Lesson

KVV Inc Attorneys

Published on: 04/03/2025

Family loans can be risky. A recent court case highlights the importance of written contracts, even with family. In this instance, parents lost R540,000 because they couldn't prove a loan agreement with their daughter. Without a contract specifying terms, repayment, and intent, family ties offer no protection.