Asked by: Syreeta Bahraoui
Asked in category: personal finance, student financial aid
Last Updated: 28th May 2024

Is it legal to issue a promissory paper without notarization?

Promissory notes don't usually need to be notarized. Legally enforceable promissory note must be signed by an individual and include unconditional promises to pay a specific amount of money.

What makes a promissory notes invalid?

A promissory notice is a contract. It's a legally binding agreement that someone will pay you a certain amount of money. In certain circumstances, however, a promissory note can be null and void if it has been altered or not correctly written.

Is a promissory notice required to be recorded? The promissory notes are not recorded in county land records, unlike a mortgage or trust deed. While the loan is still outstanding, the promissory notice is held by the lender. The note will be returned to the borrower once the loan has been paid in full.

Also, Louisiana law requires that a promissory notes be notarized.

Both parties sign a loan agreement, but only the borrower must sign a promissory notice. A witness cannot sign, but the note can be notarized to prove that the borrower signed the document.

Who can witness a promissory letter?

Although it does not need to be witnessed or signed by a JP, a Notary Public or Notary, a witness who witnessed the borrower sign the note would give it more weight. The lender does not have to sign a promissory note. It is still valid without their signature.