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Prevent the investment loss you could face if a third party found the note before you had the chance to report it missing.
Discover important steps to take to protect your promissory notes.
Learn how to customize and complete your affidavit.
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When individuals and companies borrow money to keep a business afloat, they will often use promissory notes for evidence of the transaction. As the lender, you decide where to keep these notes so that you can refer to them when necessary. But whether you store the notes in a safe-deposit box at the bank or in cardboard boxes in your garage, these important physical documents are sometimes lost or destroyed.
When that happens, you need your borrowers to execute new documents, beginning with the completion of an affidavit of lost promissory note. With this affidavit, you will be able to enforce the debt owed to you from the original note. As a supplement to this document LegalZoom provides an Indemnity Agreement, which holds the lender accountable for any losses a borrower might experience as a result of the lost promissory note. LegalZoom offers a customizable Affidavit of Lost Promissory Note and Indemnity Agreement you can use to quickly resolve the issue of a lost or misplaced promissory note.
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