Note Power | Practical Law

Note Power | Practical Law

Where the borrower owns a promissory note that is collateral in a loan transaction, a Note Power is delivered to the secured party together with the note. When completed and signed, the Note Power transfers the ownership interest in the note from the borrower to the secured party.

Note Power

Practical Law Standard Document 7-382-8188 (Approx. 4 pages)

Note Power

by Practical Law Finance
Maintained • USA (National/Federal)
Where the borrower owns a promissory note that is collateral in a loan transaction, a Note Power is delivered to the secured party together with the note. When completed and signed, the Note Power transfers the ownership interest in the note from the borrower to the secured party.