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Preview - Release of Promissory Note Form
Release of Promissory Note
This Release of Promissory Note is executed in accordance with the laws of the State of [Insert State Here]. This document acknowledges the satisfaction of a promissory note and releases the obligation of the borrower.
Parties:
- Creditor: [Insert Creditor's Name and Address]
- Debtor: [Insert Debtor's Name and Address]
Note Details:
- Principal Amount: $[Insert Amount]
- Date of Note: [Insert Date]
- Due Date: [Insert Due Date]
This document certifies that the Creditor has received full payment of the principal amount along with any accrued interest, if applicable. As a result, the Debtor is hereby released from all obligations under the promissory note referred to above.
Effective Date:
This Release shall become effective on [Insert Date].
Signatures:
By signing below, the parties acknowledge that they have read and understood this document and agree to its terms.
- Signature of Creditor: ________________________ Date: _____________
- Signature of Debtor: _________________________ Date: _____________
Witnessed by:
Signature: ________________________ Date: _____________
Name: [Insert Name of Witness]
Popular Release of Promissory Note Templates:
Simple Promissory Note - Facilitates the legal sale of a vehicle under financial terms.
When entering into a financial agreement, utilizing a Florida Promissory Note form can be crucial for both parties, as it contains essential information such as the interest rate and repayment schedule. For those looking for a template, you can find one at https://floridaforms.net/blank-promissory-note-form, which ensures all necessary details are covered and helps avoid any misunderstandings.
Similar forms
Release of Mortgage: Similar to the Release of Promissory Note, this document signifies the termination of a mortgage obligation. It releases the borrower from any further liability on the mortgage once the loan has been paid in full.
Editable Promissory Note: Utilizing an editable format allows borrowers and lenders to tailor the terms to their specific needs, which can be conveniently facilitated through resources like California PDF Forms.
Release of Lien: This document removes a lien from a property. Once a debt is satisfied, the lien holder releases their claim, similar to how a promissory note is released upon payment.
Deed of Reconveyance: Used in some states, this document transfers the title back to the borrower after the mortgage is paid. It serves a similar purpose as the Release of Promissory Note by confirming that the debt is settled.
Settlement Agreement: This document outlines the terms under which parties agree to resolve a dispute. Like the Release of Promissory Note, it indicates that obligations have been fulfilled and the matter is settled.
Quitclaim Deed: This document transfers any interest the grantor has in a property without guaranteeing that the title is clear. It can serve to release claims, akin to how a promissory note is released upon payment.
Mutual Release Agreement: This document signifies that both parties release each other from any claims or liabilities. It mirrors the intent of the Release of Promissory Note in confirming that obligations have been met.
Termination of Lease: This document ends a lease agreement, releasing both parties from their obligations under the lease. It is similar to the Release of Promissory Note in that it finalizes the end of a financial commitment.
Bill of Sale: This document transfers ownership of personal property. It serves a similar function to the Release of Promissory Note by confirming that a transaction has been completed and obligations are fulfilled.
Certificate of Satisfaction: This document verifies that a debt has been paid and the creditor no longer has a claim. It parallels the Release of Promissory Note in confirming that the borrower has satisfied their obligation.