Suffolk New York Promissory Note for Past Due Rent

State:
Multi-State
County:
Suffolk
Control #:
US-01996BG
Format:
Word; 
Rich Text
Instant download

Description

There will come a time when a current tenant may fall seriously behind or owe you for something due under the lease, such as an accumulated water bill, a bounced security deposit check or some damages they did to the premises. A promissory note is simply an agreement when one party agrees to pay another party a particular past due sum or currently due sum on a particular date or dates.

Some recommend that a promissory note should be used only with a past or departing tenant owes you money and desires to pay you on a certain date or dates according to the payment arrangement spelled out on the promissory note. These people also recommend never using such an arrangement with a current tenant. The tenant may vacate owing you past due rent, late charges, unpaid utility bills or anything owed under the terms of the lease This Note will memorialize the debt in writing and can be used later if the past tenant defaults, and you wish to pursue the debt.

These same people recommend that a promissory note should not be used with a current tenant who owes you money. They point out that unless the promissory note clearly states that the amount is rent due under the terms of the lease, the landlord may have unwittingly converted past due rent into simply a monetary obligation for which he will not be able to evict the tenant using a Statutory Notice Period. Also suppose the tenant fails to make a payment, what is owed: the full balance all at once; or only that missed payment? This matter may be clarified by an acceleration clause in both the lease and the Note.

Free preview
  • Form preview
  • Form preview

How to fill out Suffolk New York Promissory Note For Past Due Rent?

Draftwing forms, like Suffolk Promissory Note for Past Due Rent, to take care of your legal affairs is a tough and time-consumming process. A lot of situations require an attorney’s participation, which also makes this task expensive. Nevertheless, you can take your legal affairs into your own hands and deal with them yourself. US Legal Forms is here to the rescue. Our website features more than 85,000 legal documents intended for different scenarios and life situations. We ensure each document is in adherence with the laws of each state, so you don’t have to be concerned about potential legal pitfalls compliance-wise.

If you're already familiar with our services and have a subscription with US, you know how easy it is to get the Suffolk Promissory Note for Past Due Rent form. Simply log in to your account, download the template, and customize it to your requirements. Have you lost your document? No worries. You can get it in the My Forms folder in your account - on desktop or mobile.

The onboarding flow of new users is just as easy! Here’s what you need to do before downloading Suffolk Promissory Note for Past Due Rent:

  1. Ensure that your form is compliant with your state/county since the regulations for writing legal paperwork may vary from one state another.
  2. Discover more information about the form by previewing it or going through a quick description. If the Suffolk Promissory Note for Past Due Rent isn’t something you were looking for, then use the header to find another one.
  3. Log in or create an account to start using our service and get the form.
  4. Everything looks good on your side? Click the Buy now button and choose the subscription plan.
  5. Select the payment gateway and enter your payment details.
  6. Your template is all set. You can go ahead and download it.

It’s easy to find and purchase the appropriate template with US Legal Forms. Thousands of organizations and individuals are already taking advantage of our extensive collection. Subscribe to it now if you want to check what other advantages you can get with US Legal Forms!

Trusted and secure by over 3 million people of the world’s leading companies

Suffolk New York Promissory Note for Past Due Rent