Document background
The Loan Agreement Between Spouses is a specialized legal instrument designed for use in the Philippines when one spouse needs to formally borrow money from the other. This document becomes necessary when spouses wish to maintain clear financial boundaries and legal protection despite their marital relationship, particularly in cases involving substantial sums or business purposes. The agreement must comply with the Family Code of the Philippines, which governs spousal relations and property matters, as well as relevant financial regulations. It typically includes detailed terms about loan amount, interest rates, repayment schedules, and default provisions, while acknowledging the unique aspects of the marital relationship. This type of agreement is particularly relevant when loans involve separate properties, business investments, or when documentation is required for tax or business purposes.
