0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What happens if you don't sign a promissory note?
You don't get the loan
Can 1 person sign the mortgage and another sign the promissory note?
the moon shins on the earth.
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.
What if you signed mortgage but not promissory note?
If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.
Do you have to sign a promissory note from an apartment complex?
if you owe them money and they accept this IN LIEU of evicting you, yes.
How can you get out of a promissory note?
If you are the debtor you must pay the debt and have the lender sign a release.
What happens to a promissory note when the person it is endorsed to dies?
Let me get this straight, the borrower and lender enter into an agreement and sign a promisory note to secure it. The lender dies, and the debt has not been fully repaid. Easy, the borrower still owes the estate of the deceased lender.
What is a sentence for promissory note?
I needed to sign a promissory note for my student loan money.The bank is legally owed money when you sign a promissory note.The promissory note was only one page long but used complicated language.
What happens if you don't sign a promissory note?
You don't get the loan
If you sign a promissory note for a down payment on a car and they do not sell you the car is the note still valid?
If you signed a promissory note and the person decided not to sell you the car, you do not have tobpaybthe down payment. The person has already voided the promissory note by not selling to you.
Can 1 person sign the mortgage and another sign the promissory note?
the moon shins on the earth.
Is a promissory note legally binding?
There is no legal requirement that a promissory note be witnessed in order to be legally enforceable. In most cases, a written agreement is usually a written confirmation of a verbal agreement. Even without a witness to the promissory there, there many ways to prove the validity of the note such as handwriting analysis and evidence of the payment of the borrowed money such as a cancelled check.
What laws govern tow yards when releasing a vehicle with a promissory note?
Not enough information is given. Promissory note for WHAT? To pay the towing bill? To prove ownership of the car? Is the towing company asking YOU to sign a promissory note? Re-word and re-submit the question.
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.
What if you signed mortgage but not promissory note?
If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.If you didn't sign the note that means you are not responsible for the debt. If you signed the mortgage that means you consented to the property being used as security for the debt and if the note isn't paid the lender can take possession of the property by foreclosure.
Understanding a Promissory Note?
A promissory note is a signed note from one person to the other guaranteeing (promising) to pay an exact amount of money when it comes due or upon demand by the lender. Promissory notes are legally binding. That means if a borrower signs the note and does not pay the money back as promised, regardless of whether it is an individual or a business loan, the lender may sue in court for the amount of money owed. Promissory notes are much like a contract and can be used in various situations to meet one end. The end is to gain a written promise of payment from any source. For instance, bill collectors will often ask past due customers to sign a promissory note as a promise to pay back money owed. The note can later be used in court if necessary on the bad debt. A promissory note has several bits of information that seal the agreement. The first thing on the note is the principal amount owed. The principal is the actual amount of money borrowed. It does not include interest or any other possible amounts that might be added to the total due, depending on when the money is paid off. The interest rate on the loan (if interest is being charged) will also be on the promissory note. The interest rate is agreed upon and signing the note is acknowledgement that it is accepted by the borrower. Names of both parties are added to the note. Parties are the people involved in the loan. There are two types of promissory notes. The first is one with a maturity date. The maturity date is the date that the loan expires and action can be taken by the lender if not paid in full. The second is an on demand note. This note does not include a maturity date but the loan can be called in at any time. If the lender calls the note and the borrower does not pay the money back, the lender can take further action. The borrower's rights should be prominently posted on the promissory note. It should include what actions will be taken if the borrower defaults on the loan. This could include repossession of a vehicle, foreclosure on a property or a lien on a paycheck. It is the borrower's responsibility to understand his or her rights before signing the agreement.
Do you have to sign a promissory note from an apartment complex?
if you owe them money and they accept this IN LIEU of evicting you, yes.
