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  1. #1
    Join Date
    Jan 2009
    Posts
    7

    Question Promissory Note Law

    My question involves real estate located in the State of: Indiana.

    If you loan out money who keeps the promissory note and and is they a law on this and if so what is the code section?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Promissory Note

    If you lend somebody money, obviously, you would hold on to the promissory note. That's your proof that they contracted to pay you back. You can provide the borrower with a copy, and return the original when the loan is repaid.

    You can research the Indiana Code here.

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