Notes don't typicall have legals, Mortgages DO

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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.

Michael Morrongiello

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