- Joined
- Sep 8, 2007
- Messages
- 49
Hi All,
Can somebody explain how to resolve this matter:
I have a investor who is willing to invest with me with mutually agreed terms and conditions. My bank does not allow me to register a lian aginst the property and my lawyer has only suggested of puting a lian against the subject property.
I have heard of some thing called promisory note?
Please explain how does that work and i will appreciate if someone could provide me a template of it.
What are my options in this case?
The investor is giving me the money and i will pay him the interest only. He will get his principal back after 3 years and i will pay him part of his interest on monthly basis. All he wants is his $$ to be secred and is asking for legally binding contract outlining the conditions in details.
Please advice.
Can somebody explain how to resolve this matter:
I have a investor who is willing to invest with me with mutually agreed terms and conditions. My bank does not allow me to register a lian aginst the property and my lawyer has only suggested of puting a lian against the subject property.
I have heard of some thing called promisory note?
Please explain how does that work and i will appreciate if someone could provide me a template of it.
What are my options in this case?
The investor is giving me the money and i will pay him the interest only. He will get his principal back after 3 years and i will pay him part of his interest on monthly basis. All he wants is his $$ to be secred and is asking for legally binding contract outlining the conditions in details.
Please advice.