Maryland Simple Assignment of Promissory Note is a legal document that allows the transfer of a promissory note from one party to another. A promissory note is a written agreement whereby one party promises to pay a specific sum of money to another party at a future date or upon certain conditions. The Maryland Simple Assignment of Promissory Note serves as evidence of the transfer of rights and responsibilities associated with the promissory note. It ensures that the new holder of the note has the legal right to receive payments and enforce the terms of the note. Keywords: Maryland, simple, assignment, promissory note, legal document, transfer, party, rights, responsibilities, evidence, holder, payments, enforce. Different types of Maryland Simple Assignment of Promissory Note are as follows: 1. Absolute Assignment: This type of assignment involves the complete transfer of a promissory note from the assignor to the assignee. The assignor relinquishes all rights and obligations associated with the note, while the assignee assumes full ownership and control. 2. Partial Assignment: In this type of assignment, only a portion of the promissory note's rights and obligations are transferred to the assignee. The assignor remains partially responsible for the note, while the assignee is entitled to receive the assigned portion of payments. 3. Conditional Assignment: A conditional assignment of a promissory note is made with specific conditions or requirements attached. These conditions may include the performance of certain acts, such as the fulfillment of certain conditions by the debtor, before the assignment becomes effective. 4. Collateral Assignment: This type of assignment involves using a promissory note as collateral for securing a loan or debt. The assignee of the collateral assignment can enforce and collect payments on the note in case of default by the original borrower. 5. Absolute vs. Collateral Assignment: Absolute assignment transfers complete ownership and control of the promissory note, while a collateral assignment only provides security for a loan or debt, allowing the assignee to collect payments in case of default. It is essential to consult legal professionals when drafting or executing a Maryland Simple Assignment of Promissory Note to ensure compliance with state laws and the specific circumstances of the transfer.