What date to use for a promissory note/security agreement for money already recieved to buy a house?
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What date to use for a promissory note/security agreement for money already recieved to buy a house?
HWe are taking a private loan for house purchase and signing a promissory note and security agreement to secure the loan against the property. We already recieved the amount. and the closing date is next week. How should we date a promissory note and the security agreement? thank you
Asked on July 3, 2012 under Real Estate Law, Minnesota
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
The best way to date the promissory note that you received for the purchase of the house as well as the security agreement would be the date of the presumed check or money order that you received from the third party. By doing so, all documents are consistent with the check or money order that you received.
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