Promissory Note Guides
89 articles in this category
Do E-Signatures Work on a Promissory Note? What In Writing Really Means
You can sign a promissory note with a click instead of a pen, and it holds up in court. Here is why federal and state law treat an electronic signature the same as ink, and the narrow cases where it does not.
The Five Elements That Turn a Promissory Note Into a Legal Contract
A promissory note is only as strong as the contract law behind it. Five elements decide whether your note is enforceable or just a piece of paper, and any one of them can quietly break the whole thing.
Promissory Note vs Mortgage vs Deed of Trust: How Property Loans Are Really Documented
A real-estate loan isn't one document. It's a promissory note that carries the promise to pay, plus a mortgage or deed of trust that lets the lender foreclose. Here's how the pieces actually fit.
What a Promissory Note Should Include: A Complete Checklist
A clause-by-clause checklist of everything a solid promissory note needs, from principal and legal interest to acceleration, prepayment, collateral, and attorney fees, with why each one matters.
Amortized vs Interest-Only vs Balloon: Choosing a Repayment Structure
Fully amortized, interest-only, and balloon notes move money on very different schedules. Here's the math behind each one and how to match the structure to the deal.
Free Promissory Note Templates: What to Watch Out For
Free promissory note templates can work fine, and they can also quietly cost you the loan. Here is what a blank template leaves out, the real risks, and when free is genuinely enough.
Do You Have to Report Interest From a Personal Loan on Your Taxes?
If you lend money and charge interest, that interest is usually taxable income. Here's how the lender reports it, why the borrower rarely gets a deduction, and how the imputed-interest rule works.
Gift Letter vs Promissory Note: Documenting a Home Down Payment From Family
When a parent helps with a mortgage down payment, the paperwork decides everything. Here is how a gift letter and a promissory note differ, and which one your lender will actually accept.
Do You Need to Record or Register a Promissory Note?
A plain promissory note is a private contract, so most notes are never filed with any government office. The exception is when the note is secured by real estate or personal property. Here's exactly when filing matters and how to keep your note safe.
Can You Charge a Late Fee on a Promissory Note?
A payment on your note is overdue again, and you are wondering whether you can add a fee to make late payments sting a little. The answer is yes, if you set it up correctly in advance. Here is how to write a late fee that holds up instead of one a court will throw out.
Promissory Note Statute of Limitations, by State
Someone owes you money on a signed note, and you have been waiting for them to make good on it. The problem is that the law does not let you wait forever. Here is how the deadline to sue works, when the clock starts, and how a single payment can reset it.
Which State's Law Governs a Promissory Note?
When the lender and borrower sit in different states, one question decides how the note is read: whose law applies. Here's how the governing-law clause works, why it matters most for usury and the statute of limitations, and what happens when the note is silent.