Debts and Credit » Promissory Notes Legal Questions and Answers

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Does a signed promissory note need to be notarized or witnessed?

Does a signed promissory note need to be notarized to be an official document? My son lent a friend money and when my son tried to collect the unpaid debt, he was told since the borrower's signature wasn't notarized it is not an official document and he can't take the promissory note to court to sue for his money. Is that true?

06/16/2017   |   Category: Debts and Cr... » Promissory N...   |   State: ALL   |   #40179

Last year I lent my daughter a lot of money. How do I collect?

Last year i lent my daughter a lot of money she made two payment and then would not answer her phone or door to me can i take her to court and get my money back, at the time of this we both lived in North Carolina, this past Jan she moved to Florida.

04/06/2017   |   Category: Debts and Cr... » Promissory N...   |   State: North Carolina   |   #35299

Is a Business that Signs a Promissory Note Liable if They Go Out of Business?

I have a promisary note from an individual which states that this is to repay loans made to Sand Key EZ Mart and deli for operating capital. If the EZ Mart goes down the tubes is she responsible for the promisary note? It is written that I(name) do hereby promise to pay the sum of ($$) to my name on a specified date with principle and interest due on that date.Is there a form I...

12/13/2011   |   Category: Debts and Cr... » Promissory N...   |   State: Florida   |   #25570

How Do I Make Sure I am Repaid for a Loan When the Debtors Are Selling Their Home in a Divorce?

I am a resident of the State of Missouri. I hold a promissory note in the amount of $75,000 from my daughter and son-in-law which is in default. Rather than sue them , I have chosen to accept payment from them at the time of the sale of their residence in New York. They are in the process of a mediated divorce and the divorce agreement is supposed to state that after payment of...

11/02/2010   |   Category: Debts and Cr... » Promissory N...   |   State: New York   |   #23539

What Forms are Used to Finance a House With a Loan From a Friend?

My friend is lending me money to buy a house (20% of the value) . But he wants to secure the loan with a mortgage on the house with him being the first mortgage/lien holder on the house. I'm putting rest of the money. Can you let us know what forms are need to do this. The house title will be on my sons Irrevocable trust. Can you also let us know what documents are for this pur...

09/27/2010   |   Category: Debts and Cr... » Promissory N...   |   State: California   |   #23266

What Kind of Promissory Note Doesn't Charge Interest and Payment is Due in Full Upon an Event?

My husband and I will be loaning our sister in law some money to help her pay off her mortgage. We reside in California, she resides in Nevada. The loan will not have interest applied to it. The collateral will be the manufactured home she lives in. The total amount of the loan will be due upon her death or upon the sale of her home whichever occurs first. Will a promissor...

08/16/2010   |   Category: Debts and Cr... » Promissory N...   |   State: California   |   #22927

What remedies are available for a loan given to ex-daughter in law when they get divorced?

2 years ago, at the request of my daughter-in-law, we foolishly took out a mortgage on our home and lent her $70,000. She used this money to pay off her student loans and her and my son have been paying us back $500.00 a month. While son was in Iraq his wife had an affair and divorced my son. The Colorado arbitrator has determined that my son will pay back half of the loan a...

07/15/2010   |   Category: Debts and Cr... » Promissory N...   |   State: Maryland   |   #22675

What Type of Agreement is Used to Allow a Child to Purchase a Family Business in the Future?

Today I made a commitment to my daughter that she could buy out the family business in ten years. Do you have a form or template to use that that would protect her as an interested person and us as the owners of 30 years.

05/20/2010   |   Category: Debts and Cr... » Promissory N...   |   State: Utah   |   #22176

Can I Create a Promissory Note for a Loan to Be Repaid in Services?

I am interested in a secured promissory note. The signer doesn't have any valuable physical collateral, so could I use his labor to pay off the obligation in the event of default? I have a business that I would give the wage and work that would need to be performed by the signer of the note, in the event of default, along with a timeline for sure.

05/11/2010   |   Category: Debts and Cr... » Promissory N...   |   State: Washington   |   #22074

How Do I Avoid Foreclosure When a Co-Owner Files Bankruptcy?

I went into a situation to move in with another woman so we could help each other survive financially. Both of our names are on a camping trailer we lived in and now both of our names are on a Mobile Home, (yr. 67), we still owe a private mortgage on. The other woman moved out last July and I have struggled to pay and keep up the Mobile home so I did not lose a place to live, I...

04/12/2010   |   Category: Debts and Cr... » Promissory N...   |   State: Massachusetts   |   #21753
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