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No, a promissory note does not need to be notarized to be enforceable in a court of law. Virtually every promissory note on a mortgage is not notarized although a lender might require a borrower to have someone else at least witness it. A promissory note is nothing more than a formal contract to repay a loan on certain terms and conditions. In other words, it is nothing more than a fancy I. O. U. Contracts are not required to be notarized to be effective. The benefit of having a contract notarized is that it proves that the person who signed the note is in fact the person it is being enforced against.
As an aside, mortgages (as opposed to the mortgage note) must be "acknowledged" in front of a notary, but that is generally a requirement for the mortgage to be recorded publicly rather than to have it be effective.
No, it does not.
What else can I help you with?
Does a mortgage promissory note have to be notarized?
Most lenders do not require the promissory note to be notarized. The deed of trust, however, is usually required to be notarized.
Can a promissory note be legally binding if not notarized?
Yes, promissory notes can be legally binding even if not notarized. Notarization is not typically required for a promissory note to be enforceable, as long as the essential elements of a contract are present and the parties consent to the terms.
Can one person sign off on a joint held promissory note?
Yes. The co-holder of a promissory can assign their rights under the note to the other co-holder by a written, notarized instrument.
Does a promissory note need a signature?
Please see the resource center at www.one2onelending.com for all of your promissory note questions.
How do i complain about a notary who notarized a bill of sale and promissory note for his boss in a sale of a commercial vehicle in which the signer was told to forge the cosigners name.?
In order to complain about a notary who notarized a bill of sale and promissory note for his boss in a sale of a commercial vehicle in which the signer was told to forge the cosigner's name you will need to find the individual process for filing in your state. Since notary publics are commissioned by the states the process varies state to state.
Wording for promissory note?
wording for promissory note with collateral
How can i use promissory note to file a complaint or lawsuit against the debtor?
In an action on a promissory note, the promissory note itself is evidence. Give it to your attorney, who is filing the suit, because he will need all the relevant evidence to pursue the lawsuit.
Is a promissory note valid with no consideration?
No....a promissory note is not valid without a consideration.
How can you use the word promissory in a sentence?
She signed a promissory note as a commitment to repay the loan on time.
Does a promissory note have to be notorized to be legal?
Promissory notes inmost States do not have to be notarized to be legal, however they must have the signature of the person receiving goods and person making the loan. It should also contain both names (lender and borrower) in the body, as-well as the conditions for repayment
How do you issue a promissory note?
A promissory note is a fancy legal name for a legally phrased I.O.U.
Amount of promissory note is called?
The amount written on the face of a promissory note is called face value or principal. The date on which the promissory note is written is called the issue date.
