Posted by Michael Morrongiello on May 01, 2004 at 23:15:59:
In Reply to: legal description of note? posted by Bob on April 09, 2004 at 21:39:42:
A promissory Note is just that; a Promise to repay a debt. It is not secured by any collateral....
Now if you wish to secure the NOTE, then you would record a mortgage (or a trust deed) against a specific Real Estate property to SECURE the promissory Note.
The legal description of the property would appear in the mortgage instrument not the promissory Note.
- Re: Notes don't typicall have legals, Mortgages DO John Blackburn 01:25:13 8/01/2004 (0)
- Re: Notes don't typicall have legals, Mortgages DO Bob 02:14:07 5/02/2004 (1)
- Re: Notes don't typicall have legals, Mortgages DO Ryan Rankin 05:39:46 9/28/2004 (0)
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