A promissory note is a written promise to pay a debt. It is an unconditional promise to pay on demand or at a fixed or determined future time a particular sum of money to the order of a specified person or to the bearer.
A promissory note should have several essential elements, including the amount of the loan, the date by which it is to be paid back, the interest rate, and a record of any collateral that is being used to secure the loan. Default terms (what happens if a payment is missed or the loan is not paid off by its due date) should also be spelled out in the promissory note.
Bexar Texas Promissory Note in Connection with Sale of Motor Vehicle
Category:
State:
Multi-State
County:
Bexar
Control #:
US-02680BG
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Bexar Texas Promissory Note In Connection With Sale Of Motor Vehicle?
How much time does it typically take you to create a legal document? Because every state has its laws and regulations for every life scenario, finding a Bexar Promissory Note in Connection with Sale of Motor Vehicle suiting all local requirements can be stressful, and ordering it from a professional lawyer is often expensive. Many online services offer the most popular state-specific documents for download, but using the US Legal Forms library is most beneficial.
US Legal Forms is the most comprehensive online catalog of templates, gathered by states and areas of use. Apart from the Bexar Promissory Note in Connection with Sale of Motor Vehicle, here you can get any specific document to run your business or personal deeds, complying with your regional requirements. Experts verify all samples for their actuality, so you can be certain to prepare your paperwork correctly.
Using the service is fairly simple. If you already have an account on the platform and your subscription is valid, you only need to log in, choose the needed sample, and download it. You can retain the document in your profile at any moment later on. Otherwise, if you are new to the platform, there will be some extra steps to complete before you get your Bexar Promissory Note in Connection with Sale of Motor Vehicle:
- Examine the content of the page you’re on.
- Read the description of the template or Preview it (if available).
- Look for another document utilizing the related option in the header.
- Click Buy Now when you’re certain in the chosen document.
- Select the subscription plan that suits you most.
- Create an account on the platform or log in to proceed to payment options.
- Pay via PalPal or with your credit card.
- Switch the file format if necessary.
- Click Download to save the Bexar Promissory Note in Connection with Sale of Motor Vehicle.
- Print the sample or use any preferred online editor to complete it electronically.
No matter how many times you need to use the acquired document, you can find all the samples you’ve ever saved in your profile by opening the My Forms tab. Try it out!
Form popularity
FAQ
DMV Forms Application for Texas Title and/or Registration (Form 130-U) Texas Motor Vehicle Transfer Notification (VTR-346) Affidavit of Motor Vehicle Gift Transfer (Form 14-317) Application for Persons with Disabilities Parking Placard and/or License Plate (VTR-214) Application for Certified Copy of Title (VTR-34)
Fees one can expect to pay when buying a car in Texas are as follows: Sales Tax: 6.25% of the total vehicle purchase price. Title Transfer Fee: $28 to $33 (varies by county) Tag / License Fee: $51.75 base fee, $10 local fee.
When you write the promissory note, make sure to contain the following information: Name and address of the borrower and lender. Model, year, make, and VIN of the vehicle. Loan amount, interest rate, length of the loan, and maturity date. Late fees and penalties. Collateral information. Odometer reading.
A promissory note can be used for different types of loans such as a mortgage, student loan, car loan, business loan or personal loan.
The title fee is $33, plus motor-vehicle sales tax (6.25 percent). There is also a $2.50 transfer of a current registration fee. If the license is not current, there may be a registration fee. Please note sales tax is paid on the actual price or 80% of the Standard Presumptive Value -- whichever is the higher amount.
Generally, as long as the promissory note contains legally acceptable interest rates, the signatures of the two contracted parties, and are within the applicable Statute of Limitations, they can be upheld in a court of law.
Promissory notes and titles can be sold. The person who owns the promissory note may sell it. Lenders typically sell promissory notes when they no longer want to be responsible for the loan or they need a lump sum of cash. The buyer of the note assumes the responsibility of collecting the money.
When you write the promissory note, make sure to contain the following information: Name and address of the borrower and lender. Model, year, make, and VIN of the vehicle. Loan amount, interest rate, length of the loan, and maturity date. Late fees and penalties. Collateral information. Odometer reading.
DMV Forms Application for Texas Title and/or Registration (Form 130-U) Texas Motor Vehicle Transfer Notification (VTR-346) Affidavit of Motor Vehicle Gift Transfer (Form 14-317) Application for Persons with Disabilities Parking Placard and/or License Plate (VTR-214) Application for Certified Copy of Title (VTR-34)
A promissory note is a promise to pay. So a bill of sale for an automobile with a promissory note is what you might expect from the (very long) name: A certification someone has bought, and promises to pay for, your car. In this case, likely in monthly installments.
More info
Fueling Station, San Antonio, Bexar County, Texas. Mortgages, Promissory Notes, and Other Property Agreements.