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REAL ESTATE TRANSFER TAX EXEMPTION PROMISSORY NOTE AND AFFIDAVIT FOR PRIMARY RESIDENCE EXEMPTION ($240,000 PRIMARY RESIDENCE EXEMPTION)$ .00 DOLLARSDate: 1. This Promissory Note (Note) is executed

How to fill out promissory note and affidavit

How to fill out promissory note and affidavit

1. To fill out a promissory note and affidavit, follow these steps:
2. Begin by entering the date at the top of the document. Make sure to use the proper format (e.g. MM/DD/YYYY).
3. Write your full legal name and address under the heading 'Borrower'.
4. Include the full legal name and address of the lender under the heading 'Lender'.
5. Specify the amount of money borrowed and the interest rate, if applicable.
6. State the repayment terms and schedule. Include the due date and any penalties for late payments.
7. Outline any collateral or security provided by the borrower, if applicable.
8. Include any additional terms and conditions that both parties agree upon.
9. Sign and date the promissory note in the presence of a notary public, if required by law.
10. Fill out the affidavit by providing your full legal name and confirming the accuracy of the information stated in the promissory note.
11. Sign and date the affidavit in the presence of a notary public, if necessary.
12. Remember to review the completed promissory note and affidavit before signing to ensure accuracy and understanding. Seek legal advice if needed.

Who needs promissory note and affidavit?

1. Promissory notes and affidavits can be required by individuals and businesses engaged in various financial transactions.
2. Here are some examples of who may need these documents:
3. - Borrowers seeking loans from family, friends, or traditional lenders
4. - Lenders looking to secure their rights and ensure repayment
5. - Real estate buyers and sellers involved in seller financing
6. - Parties engaged in business transactions, such as vendor contracts or payment agreements
7. - Individuals or companies involved in legal disputes that may require a legally binding agreement
8. It is important to consult with a legal professional to determine if a promissory note and affidavit are necessary for your specific situation.

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What is promissory note and affidavit?

Promissory note is a written promise by one party to pay a sum of money to another party at a specified time. An affidavit is a written statement confirmed by oath or affirmation, for use as evidence in court.

Who is required to file promissory note and affidavit?

Individuals or businesses involved in a financial transaction where a promise to pay a sum of money is made.

How to fill out promissory note and affidavit?

Fill out the promissory note with details of the loan agreement, including the amount borrowed, repayment terms, and signatures of the parties involved. Fill out the affidavit with a sworn statement regarding the accuracy of the promissory note.

What is the purpose of promissory note and affidavit?

The purpose is to create a legally binding agreement regarding a loan transaction and to provide evidence of the terms agreed upon.

What information must be reported on promissory note and affidavit?

Information such as the amount borrowed, repayment terms, interest rate (if applicable), names and signatures of the parties involved, and a sworn statement confirming the accuracy of the document.