Make a release of promissory note in minutes

Once your borrower has paid their loan, it's good to officially mark the end of your agreement.

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Here's the info you'll need to have handy to complete your doc:

  • Who the lender is

    Know if a business or individual signed the promissory note and made the loan, and have their name and contact info ready.

  • Who the borrower is

    Know if the borrower is a business or individual and have their name and contact info ready.

  • When the note was signed

    Know the month, day, and year when the original promissory note was signed.

What's a Release of Promissory Note?

You or your business loaned someone money and used a promissory note to make it official. Now that your borrower has finished paying you back, use a release of promissory note form to officially end your agreement. It's anamicable way to mark it done—and, it helps tie up any loose ends.
 

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Sample release of promissory note

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In consideration of full payment of the debt shown by the promissory note dated , which set out the terms for repayment of a loan in the original principal amount of $ (the "Note"), weI, the undersigned noteholders, of , , , , release and discharge , of , , , , from any claims or obligations arising out of the Note. This release relates only to the indebtedness evidenced by the Note and not to any other loan. 


Date:__________________________________

By:______________________________________________________________
Name:
Title:
ACKNOWLEDGMENT
OF NOTARY PUBLIC
State of )
) ss
County of )

On this _____ day of ____________, 20___, before me, the undersigned notary public, personally appeared _________________, who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her authorized capacity, and that by his/her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the state of _________________ that the foregoing paragraph is true and correct.
WITNESS my hand and official seal.

Signature _______________________________ (notary public)