Definition of "Promissory note"

Doris Jeffries real estate agent
Doris Jeffries, Real Estate Agent eXp Realty

Formal, written, unconditional promise to pay on demand or at a future date a definite sum of money. The person signing the note and promising to pay is called the maker of the note. The person to receive payment is called the payee.

 

Need help from a real estate agent?


Buy Sell Rent

I agree to receive FREE real estate advice.

Are you a realtor and want to become a member?


Residential Rental Commercial

I agree to receive FREE real estate advice.

Have a question or comment? We're here to help.

 

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Popular Real Estate Questions