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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.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoIf 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.
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Who signs a promissory note?
The most important signature on a promissory note is the borrower. Many are also signed by the lender.
Can someone sue for money if no promissory note it signed?
no
Is a promissory note binding if there is no consideration in return?
In order to have a promissory note there must be consideration. If a bank gives you a mortgage, then the home is consideration for your payments.
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.
Which of these is a signed promise to pay back a loan?
promissory note
Is a promissory note valid if initials are forged?
A promissory note must be signed by the borrower. The document is not valid if it is a forgery as with any signed document.
What do you do if you sold a vehicle to someone with a promissory note stating they will make payments and signed the title over if they do pay?
If they signed the promissory note, then it is legal, and binding.
Who signs a promissory note?
The most important signature on a promissory note is the borrower. Many are also signed by the lender.
Can someone sue for money if no promissory note it signed?
no
Is a promissory note binding if there is no consideration in return?
In order to have a promissory note there must be consideration. If a bank gives you a mortgage, then the home is consideration for your payments.
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.
What happens to a promissory note if the creditor takes title to real property?
Real property can only be encumbered by a mortgage and not by a promissory note. A promissory note has no effect on real property it is only evidence of a loan. If the mortgagee acquires title to the mortgaged property the title merges and the mortgage is extinguished.
Which of these is a signed promise to pay back a loan?
promissory note
What happens when a promissory note is signed by two people and one dies?
The deceased's estate acquires the power to enforce, or the responsibility to pay, the promissory note.
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.
Does holder have the rights to add the words on demand on the face of the promissory note after making it?
Absolutely not. A promissory note cannot be altered by either party after it has been signed, unless both parties agree to the changes in writing and signed by both parties.Absolutely not. A promissory note cannot be altered by either party after it has been signed, unless both parties agree to the changes in writing and signed by both parties.Absolutely not. A promissory note cannot be altered by either party after it has been signed, unless both parties agree to the changes in writing and signed by both parties.Absolutely not. A promissory note cannot be altered by either party after it has been signed, unless both parties agree to the changes in writing and signed by both parties.
What is a signed promise to pay back loan?
Collateral
