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Lending/Borrowing Money Agreements


 

Surety Agreement

An excellent way to ensure a private loan is repaid, is to use a co-signer who acts as a surety or guarantor. This modifiable form involves the guarantee of a third-party to ensure payment of a Promissory Note. This form can be modified to include the third party in the event the principal borrower fails to pay on the promissory note obligation.

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Promissory Note

IF you ever loan any money to anyone, whether it's friends, family, neighbor, co-worker, etc., be sure to document the loan and specify when and where the borrower is going to pay you back. This PROMISSORY NOTE includes terms and payment arrangements and has been used by lenders and borrowers alike to evidence loans. This document provides terms you can modify to suit your needs to evidence the loan obligation.

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Assignment of Personal Property

Often borrowers "forget" to repay debts, balancing the obligation with the competing obligations of "other bills". This modifiable form can be used to effect an actual assignment of property of a particular item to secure a loan. It is one well used avenue of securing repayment that effects an actual assignment of ownership of an item of property at the time the loan is made and is an alternative to a lien or security agreement. Modify this form as necessary to take an item of property to securty that you are repaid.

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Promissory Note Payment Schedule

Optional, usable payment schedule detailing the number, amount and date of each payment to be made under the loan obligation should you choose to include an incremental repayment schedule.

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