PROMISSORY NOTE is a document in which one promises to repay money that has been Borrowed.
In order for this Promissory Note to be a legally binding contract, it must be in writing and signed by the one borrowing the money. This document must also provide certain language describing how and when repayment of the loan shall be made.
It is a good idea to have a binding PROMISSORY NOTE, even if the parties involved are relatives. Documenting the loan can head off misunderstandings about whether the money is a loan or gift, when it is to be repaid and how much interest is owed.
- Equal Monthly Payments - (fully amortized including principal and interest)
- Equal Monthly Payments WITH a Final Balloon Payment
- Interest-Only Payments WITH a Final Balloon Payment
- One Single Payment of Principal and Interest
Note: As long as both parties agree there are no set rules concerning how the money is to be repaid.
Can you read an existing PROMISSORY NOTE or other legal form and tell the difference between what is legal and what is not ?
If you don't understand all that legal language, you're not the only one.
Don't be mislead by all the free and cheap real estate forms available on the Internet. Most are not worth your time or effort and will ultimately get you in trouble. Our Official PROMISSORY NOTE contains all the legal language and protection you need.
That old saying about "how you get what you pay for" has never been more valid.
The entire process to obtain a valid promissory-note is quick, easy, very affordable and most of all USER FRIENDLY. Keep reading and we will explain how everything works. Your promissory note real estate form is only a click away.