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Utah Secured Promissory Note

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Not a blank template — your details are filled in, formatted to Utah law, and ready to sign.

Generate a legally compliant Secured Promissory Note for Utah that covers all required terms under Utah promissory note law. Fill in your loan details and download your completed, ready-to-sign Secured Promissory Note as a professional PDF.

Utah law governs promissory notes with specific usury limits and enforcement rules that secures both note holder and borrower. Utah does not impose a general statutory cap on interest rates for private loans. Lenders have 6 years to file suit to collect on a promissory note in Utah. Utah law requires 4 specific elements in a valid promissory note.

Utah Promissory Note Requirements

Max Interest Rate No statutory cap
Rate Details No statutory usury cap
Usury Penalty No statutory usury cap for private loans
Statute of Limitations 6 years
Notarization Recommended
Witnesses Recommended (1)
Governing Agency Utah District Courts
Required Elements Written agreement signed by borrower; Detailed collateral description; Interest rate disclosure; Lien filing if applicable

What to Include in a Utah Secured Promissory Note

Every Secured Promissory Note in Utah should include the following vital provisions: the full legal names and addresses of both the lending party and debtor, the principal loan amount, the interest rate (which must not exceed the agreed-upon rate under Utah law), the repayment schedule and due dates, any late payment penalties, the consequences of default, and the governing law clause. Because this is a secured promissory note, you must also describe the collateral in detail, including how it will be valued and the lender's right to seize it upon default.

Utah requires the following elements in a valid promissory note: written agreement signed by borrower, detailed collateral description, interest rate disclosure, lien filing if applicable.

How to Complete a Utah Secured Promissory Note

To complete a Secured Promissory Note in Utah, start by gathering the necessary information: the full legal names and addresses of both parties, the loan amount, the agreed-upon interest rate, the repayment terms, and any collateral details if applicable.

Our platform walks you through each section with a guided form tailored to Utah requirements. Once you have filled in all details, you can preview the document, choose from five professional document styles, and download your completed Secured Promissory Note as a PDF.

Frequently Asked Questions

Is a promissory note legally binding in Utah?
Yes. A properly executed promissory note is a legally enforceable contract in Utah. To be binding, it must identify both parties, state the loan amount and repayment terms, and be signed by the borrower. While notarization is not required in Utah, it is recommended to add an extra layer of authenticity. Lenders have 6 years to pursue legal action to collect on a defaulted note.
What is the maximum interest rate for a promissory note in Utah?
Utah does not impose a general statutory cap on interest rates for private written contracts, giving parties significant flexibility to agree on a rate. However, any rate that a court deems unconscionable or predatory may still be challenged.
Do I need a notary for a promissory note in Utah?
Notarization is not required for a promissory note to be legally valid in Utah. However, notarizing the document is strongly recommended — it deters forgery claims, simplifies enforcement in court, and makes the note self-authenticating as evidence. Having 1 witness is also recommended.
What happens if the borrower defaults on a promissory note in Utah?
If the borrower defaults, the lender may demand immediate repayment of the full outstanding balance, charge any default interest rate specified in the note, and pursue legal action in Utah court. Because this is a secured note, the lender may also seize and sell the collateral to recover the outstanding amount. Lenders have 6 years from the date of default to file a lawsuit under Utah's statute of limitations for written contracts.
What must be included in a Utah Secured Promissory Note?
A valid Secured Promissory Note in Utah must include: Written agreement signed by borrower; Detailed collateral description; Interest rate disclosure; Lien filing if applicable. Our platform automatically includes all required elements for Utah in your generated document, formatted to meet state standards.

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