Promissory Notes
Does a signed promissory note need notarization to be valid?
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?
Can I take my daughter to court for a loan repayment?
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.
How can I secure my interest in a promissory note from family?
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 the first mortgage and sales and closing expenses the remaining proceeds will be applied to this loan. I think I need a deed of trust that could be filed with the Recorder of Deeds Nassau County to in effect have a recorded lien on the property. Is this the bet way to secure my interest?
What forms are needed for a friend to secure a loan with a mortgage?
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 purpose.
Can a promissory note secure a loan across state lines?
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 promissory note handle this transaction and if so which one since there are two states involved? Another stipulation in the loan will be that if my husband and I both pass away before my sister in law, the loan will still be due and payable to our trust.Thank you for any assistance you can give me.