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Formswift: Save time with our customizable Florida promissory note template

Need to create a loan agreement in Florida? Look no further. Our Florida promissory note will simplify the process and save you time. Fully customizable, you can easily create a tailored promissory note form to meet your specific requirements.

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What is a Florida promissory note?

A Florida promissory note outlines the terms and conditions of a loan agreement between a lender and a borrower. It serves as a written promise from the borrower to repay the lender a specific amount of money, the principal sum, within a specified time frame or due date.

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What is a Florida promissory note used for?

A Florida promissory note is commonly used for financial transactions where a borrower is obligated to repay a lender. It provides clarity and security by documenting the:

  • Amount of the loan
  • Agreed-upon terms
  • Repayment schedules
  • Rate of interest
  • Late payment fees or penalties for defaulting on the loan
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Common types of Florida promissory notes

There are several types of promissory notes in the state of Florida:

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Unsecured promissory note

This type of note outlines the borrower's promise to repay the lender without involving any collateral or complex terms.

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Secured promissory note

In this case, the borrower pledges specific assets, such as real property or personal property, as collateral to secure the loan. This provides an extra layer of protection for the lender.

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Demand promissory note

Unlike other types, this note allows the lender to demand repayment of the loan, either in a lump sum or installment payments, at any time they choose.

What you need to write a Florida promissory note

To create a Florida promissory note, you'll need the following:

  • Lender and borrower names and contact details
  • Loan amount (principal balance) and the amount of interest per annum, if applicable
  • Repayment terms, including the frequency and duration of payments
  • Any additional terms, such as late fees
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Frequently asked questions

Absolutely. Our Florida promissory note template is fully customizable, allowing you to tailor it according to your specific loan agreement.

While notarization by a notary public isn’t required under Florida law, it can add an extra layer of authenticity.

In the event of default, the lender has the right to pursue legal action to recover the outstanding loan amount. This potentially includes the interest, late fees, and any other penalties specified in the promissory note.

Yes, you can use a Florida promissory note for both personal and business loan agreements.

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