Ƶ

Promissory Note For Property for the United Kingdom

Promissory Note For Property Template for England and Wales

A Promissory Note For Property is a legally binding written instrument under English and Welsh law that documents a promise to pay a specified sum of money, secured against real property. It details the terms of repayment, including interest rates, payment schedule, and consequences of default. The document creates a security interest in the specified property, providing the payee with additional protection beyond a personal promise to pay.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Promissory Note For Property

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Promissory Note For Property?

A Promissory Note For Property is commonly used in English and Welsh property transactions where deferred payment arrangements are required. The document serves as both a promise to pay and a security instrument, with the underlying property acting as collateral. This type of note is particularly useful in seller-financed transactions, property development projects, or when traditional mortgage financing isn't suitable. The note must comply with English property law requirements and typically includes specific details about the property, payment terms, and enforcement mechanisms.

What sections should be included in a Promissory Note For Property?

1. Date: Date of execution of the promissory note

2. Parties: Details of maker (promisor) and payee (promisee)

3. Promise to Pay: Unconditional promise to pay a specific sum

4. Payment Terms: Amount, interest rate, payment schedule, and maturity date

5. Property Details: Description of the property securing the note

6. Signature Block: Formal execution section

What sections are optional to include in a Promissory Note For Property?

1. Late Payment Provisions: Used when specific penalties for late payment are required

2. Prepayment Terms: Include when early payment options are permitted

3. Default Provisions: Used to specify consequences of default

4. Assignment Clause: Include if note may be transferred or assigned

What schedules should be included in a Promissory Note For Property?

1. Payment Schedule: Detailed breakdown of payment dates and amounts

2. Property Description: Detailed legal description of the securing property

3. Title Documents: Copies of relevant property title documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

England and Wales

Publisher

Ƶ

Document Type

Promissory Note

Sector

Banking

Cost

Free to use
Relevant legal definitions




















Clauses




















Industries

Law of Property Act 1925: Primary legislation governing real property transactions and legal requirements in England and Wales. Essential for any property-related documentation.

Consumer Credit Act 1974: Regulates credit agreements and provides consumer protection measures. Applies if the promissory note involves a consumer transaction.

Limitation Act 1980: Sets statutory time limits for enforcing the promissory note, specifically 6 years for simple contracts.

Contracts (Rights of Third Parties) Act 1999: Determines how third-party rights are handled in contractual agreements, which may be relevant if the promissory note affects third parties.

Bills of Exchange Act 1882: While primarily focused on negotiable instruments, provides important principles relevant to promissory notes.

Common Law Contract Principles: Fundamental principles including offer, acceptance, consideration, intention to create legal relations, and capacity to contract.

Statute of Frauds: Historical legislation requiring certain contracts to be in writing, particularly relevant for property-related promises.

Money Laundering Regulations 2017: Anti-money laundering requirements that may apply to property transactions and related financial instruments.

Financial Services and Markets Act 2000: Regulatory framework for financial activities, applicable if the promissory note involves regulated financial activities.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Promissory Note For Vehicle Purchase

A legally binding promise to pay for a vehicle purchase under English and Welsh law, documenting the debt obligation between buyer and seller.

Download

Time Promissory Note

An England & Wales legal document formalizing a debt obligation with a specific future payment date.

Download

Straight Promissory Note

An England & Wales legal document formalizing a promise to repay a specified sum under agreed terms.

Download

Shareholder Promissory Note

An England & Wales legal document formalizing a shareholder's deferred payment or debt obligation to the company.

Download

Simple Note Payable Agreement

An England & Wales document formalizing a straightforward loan arrangement with essential debt details and legal enforceability.

Download

Senior Promissory Note

An England & Wales legal document detailing senior debt obligations with priority over junior creditors.

Download

Recourse Promissory Note

An England & Wales debt instrument ensuring personal liability for payment defaults under the Bills of Exchange Act 1882.

Download

Promissory Note With Real Estate Mortgage

An England & Wales legal document securing a loan against real property with detailed terms and enforcement rights.

Download

Promissory Note With Personal Guarantee

An England & Wales legal document securing debt with a promissory note and personal guarantee.

Download

Promissory Note With Collateral

An England & Wales legal document securing debt with collateral under specific legislative compliance.

Download

Promissory Note Secured By Personal Property

An England & Wales legal document securing debt with personal property as collateral.

Download

Promissory Note Secured By A Mortgage

An England & Wales legal document evidencing debt and securing property interest for secured financing arrangements.

Download

Promissory Note Repayment Schedule

An England & Wales document outlining structured loan repayment terms, including schedules, interest, and default provisions.

Download

Promissory Note Providing For Interest

An England & Wales legal document formalizing a loan repayment promise with interest between parties.

Download

Promissory Note Mortgage

An England & Wales legal document securing a loan with property collateral, detailing repayment and default terms.

Download

Promissory Note Monthly Payments

An England & Wales legal document outlining structured monthly repayments for a loan, detailing obligations and protections.

Download

Promissory Note Lien On Property

An England & Wales legal document securing a loan with property as collateral and detailing debt obligations.

Download

Promissory Note Letter

An England & Wales legal document formalizing a promise to pay a specified sum under agreed terms.

Download

Promissory Note Installment Payments

An England & Wales legal document detailing debt repayment terms through scheduled installments.

Download

Promissory Note For Property

An England & Wales legal document securing deferred property payment with the property as collateral.

Download

Promissory Note Cosigner Agreement

An England & Wales legal document ensuring cosigner liability for a primary borrower's loan obligations.

Download

Promissory Note Convertible To Equity

An England & Wales legal document allowing deferred equity valuation for immediate startup funding.

Download

Promissory Note Agreement

An England & Wales legal document formalizing a promise to repay a specified sum with outlined terms.

Download

Promissory Contract Of Purchase And Sale

An England & Wales legal agreement outlining future sale terms and conditions for property or goods transactions.

Download

Promise To Pay Letter For Rent

An England & Wales legal document outlining a tenant's commitment to repay overdue rent with a structured plan.

Download

Payable On Demand Promissory Note

An England & Wales legal document acknowledging debt, allowing immediate repayment upon demand by the payee.

Download

Note Agreement

An England & Wales legal document detailing terms for borrowing through note issuance and compliance with financial regulations.

Download

Non Recourse Promissory Note

An England & Wales legal document limiting lender recourse to specific assets in project finance transactions.

Download

Loan Promissory Note

An England & Wales legal document outlining loan terms, repayment schedule, and borrower obligations.

Download

Loan Note Document

An England & Wales legal document outlining debt terms for corporate financing through alternative lending arrangements.

Download

Interest Only Balloon Note

An England & Wales legal document outlining interest-only loan terms with a final balloon payment.

Download

Full Recourse Promissory Note

A formal request document for borrowing funds from a bank in England & Wales, detailing financial information.

Download

Family Promissory Note

An England & Wales legal document authorizing a third party to handle specific claims on behalf of another.

Download

Cash Loan Promissory Note

An England & Wales document authorizing specific salary payment arrangements between employers, employees, and financial institutions.

Download

Borrower Promissory Note

An England & Wales legal document authorizing delegated banking responsibilities under specific conditions.

Download

Promissory Note Personal Guarantee Language

A legally binding document under English and Welsh law where an individual personally guarantees payment or performance of another party's obligations.

Download

Payment Plan Promissory Note

A legally binding document under English and Welsh law that establishes structured repayment terms for a debt through scheduled installments.

Download

Promissory Note For Stock Purchase

A legal document under English and Welsh law evidencing a promise to pay for company shares, combining elements of a promissory note and stock purchase agreement.

Download

All Inclusive Promissory Note

A comprehensive financial instrument under English and Welsh law combining multiple debt obligations into a single promissory note.

Download

Private Loan Promissory Note

A legally binding document under English and Welsh law evidencing a debt obligation and containing a borrower's written promise to repay a loan under specified terms.

Download
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it