Promissory Note Release

A Promissory Note Release should be issued upon full and final settlement of the loan.

As a borrower, you should insist on receipts for every payment made, especially if made in cash. More than just a return of the original Note to yourself, you should also insist on a release of a promissory note from the Note holder once the loan has been paid in full.

paid stamp and money

Where a loan was guaranteed under a guarantor agreement, a release of guarantee can be issued to the guarantor.

Additional Information:
Please refer to the guidelines on our Promissory Notes Page and for links to a printable receipt and more free promissory note forms.

Note: All our free legal forms are sample documents and are provided for general informational purposes only. It is important to consult with an attorney to ensure your documents meet all the legal requirements in your jurisdiction.

PROMISSORY NOTE RELEASE

Full Names ________________________________

Address___________________________________

Full Names ________________________________

Address___________________________________

(Hereinafter referred to as the Borrower/s)

Full Names ________________________________

Address___________________________________

(Hereinafter referred to as the Lender)

The Lender hereby acknowledges receipt of the full payment of the Promissory Note dated ______________________20____
in the principal loan amount of
$_________(_________________________________)
as well as receipt of full payment of any interest accrued.

The Lender therefore releases the Borrower(s) from all obligations under this Note and this release shall be binding upon the Lender's successors, legal representatives and assigns.

The Lender warrants that the Note referenced has not been assigned, ceded, transferred or sold to a third party and warrants his / her authority as Note holder to issue this Promissory Note Release.

Signed on this _______day of _________________________20______.

Signature of Lender: ____________________________________

Signature of Witness: ____________________________________

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