Document background
The Family Promissory Note is commonly used in Switzerland when one family member lends money to another and wishes to formally document the arrangement. This document type is particularly relevant when significant sums are involved or when clear documentation is needed for tax, inheritance, or family governance purposes. The promissory note must comply with Swiss legal requirements while acknowledging the unique dynamics of family financial relationships. It should include specific details about the loan amount, repayment schedule, any interest provisions, and consequences of default. This document helps prevent future misunderstandings and provides legal protection for both parties while maintaining the spirit of family support and cooperation.
